First, the bad news: The SWIFT CSP self-attestation deadline is fast approaching. The good news? There’s still time, and help is available!
For financial services companies that use the Society for Worldwide Interbank Financial Telecommunication (SWIFT) financial messaging network, there’s a new deadline on the horizon: December 31, 2017. That is the date by which institutions must complete self-attestation of the Customer Security Programme (CSP).
To help member banks understand the requirements, Citrix and SWIFT are presenting a webinar to provide insights as to how they can address the attestation requirements. Entitled “SWIFT CSP: What You Need to Know,” the webinar features speakers Saquib Sheikh, head of sales services for Asia Pacific from SWIFT, and Kurt Roemer, chief security strategist from Citrix.
Here’s why this requirement was put in place: in early 2016, hackers used malware and social engineering to gain access to three international banks’ security systems. They used SWIFT terminals to transfer funds illegally, resulting in a bank heist of $80 million. The CSP was announced during mid-2016 to address the security concerns exposed by the hacks. Before the end of the year, SWIFT bank members must attest to this set of 27 security controls. The attestation reports will be made public within the member community. SWIFT reserves the right to report non-compliance to local supervisors starting January 2018.
More about SWIFT: With 11,000 customers around the world, the SWIFT platform allows financial institutions to send and receive information about financial transactions in a secure, standardized and reliable environment. SWIFT customers connect to the platform by integrating hubs on their premises, or via the cloud.
More about Citrix: Citrix solutions for Financial Services and Insurance unify and enrich end user experience; secure all types of finance applications and data; and simplify bank IT departments’ ability to manage increasingly complex, hybrid and multi-cloud environments.
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