Learn how we’re helping institutions strengthen their cybersecurity defences, regardless of their size, through industry partnerships, a free and effective tool box and cost-conscious processes as part of our Customer Security Programme.
In a world where fraudsters and cyber attackers are constantly developing their tactics to expose vulnerabilities in the global financial system, institutions must invest in strong and watertight cybersecurity defences. But doing so costs time and money, and can put institutions with smaller budgets at greater risk.
We believe that financial institutions of all shapes and sizes should be able to protect themselves from this ever-evolving threat, and want to enable them to play their part in the global fight against cyber attackers. Over the years, we have partnered with a range of industry leaders to unite and collaborate in achieving this goal, including the Carnegie Endowment for International Peace and the World Economic Forum.
Cyber Resilience and Financial Organisations: A Capacity-Building Tool Box
To help support this initiative, SWIFT Institute issued Carnegie with a grant to develop a cybersecurity tool box. Originally released in 2019, this tool box now provides financial institutions around the world with eight easy-to-use guides that, if used effectively, have the power to prevent attacks on the global financial system.
The series of short guides begins at board and executive level to ensure comprehensive risk management, governance and continuous organisational thinking on cyber
Since its initial launch, the tool box has been very successful, logging more than 44,000 downloads and illustrating the demand for free and effective resources such as these. Carnegie has continued to develop and improve it, updating sections with current information and translating them into nine additional languages. Today, the tool box is available in English, Mandarin, Japanese, Russian, Hindi, Spanish, Portuguese, Dutch, French and Arabic.
Customer Security Programme: Facilitating accessible cyber defence
Keeping the global financial system secure all starts with individual institutions. Like parts in a well-functioning machine, each component must do its bit to ensure it moves as one.
And it’s this philosophy that underpins our Customer Security Programme.
Users can compare their own institution’s security measures with those detailed in the Customer Security Controls Framework (CSCF), before attesting their level of compliance to ensure their defences are up to date and effective. This attestation process must be completed in line with the applicable version of the CSCF controls by the end of December each year.
However, as part of the Independent Assessment Framework, instead of supporting this attestation with a costly and time-consuming audit, users are required to conduct an independent assessment.
We opted for independent assessments as we understand that conducting an audit is a significant operation that could put strain on teams and budgets, especially within smaller institutions. We are continually developing the CSP to support our customers, and in providing this updated process, are proud to put concrete action behind our belief that cybersecurity should be accessible to all.