SWIFT (a global provider of secure financial messaging services) recently announced their Customer Security Controls Framework (CSCF). This framework is targeted at financial institutions that utilize the SWIFT network to process transactions and establishes expected “local user controls” that could be exploited by hackers to gain unauthorized access to the network. Below is a summary of the CSCF:
Institutions have until December 31, 2017 to self-attest to compliance with these requirements, although many of the controls should already be addressed through other regulations like Gramm-Leach-Bliley (GLBA) and the FFIEC Cybersecurity Assessment Tool (CAT).
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