ValueMentor conducts SWIFT CSP assessments & attestations that helps customers maintain compliance with SWIFT CSP requirements
SWIFT Customer Security Controls Framework (CSCF) is introduced as a measure to improve security and transparency across the global financial community. SWIFT CSP focuses on 3 areas (a) Secure and Protect your local SWIFT environment (b) Prevent & Detect fraud in your counterparty relationships and (c) continuously Share information and Prepare to defend against future attacks.
What is the SWIFT CSP?
SWIFT’s customer security program (CSP) prevents and detects and aims to prevent fraudulent activity through a set of mandatory security controls, community-wide information sharing initiatives, and enhanced security features on their products
Should advisory controls be adopted?
Customers are required to implement all mandatory controls. However; the advisory controls are provided to reduce the attack surface and vulnerabilities, detect anomalous activity to systems or transaction records, and plan for incident response and information sharing. These controls should be ideally selected after performing risk assessments.