SWIFT Cyber Security

Cyber-attacks in the financial realm have become increasingly popular and sophisticated. The persistence and severity of the cyber-attacks have prompted financial institutions and their stakeholders to become more proactive and vigilant at ensuring long term and utmost financial systems security. Though customers are mandated to protect their work environments and SWIFT access, SWIFT upholds a Customer Security Programme that was designed to support their customers in the ever changing fight against cyber fraud.

The Customer Security Programme (CSP) highlights common security sets that are designed to ensure that SWIFT customers secure their local operation environments and ultimately foster a strong and highly secure financial environment. Additionally a set of advisory and mandatory security control requirements for SWIFT users is described under the SWIFT Customer security Control Framework. Mandatory security controls offer a security baseline for the entire SWIFT community that must be implemented by all customers within their SWIFT infrastructure. SWIFT prioritizes the mandatory control requirements in a bid to set realistic cyber security goals that offer tangible security gains and reduce cyber-attack risks. On the other hand, advisory controls focus on the good practices that SWIFT advises its customers to uphold. Note that, mandatory controls are bound to change over time as the cyber threat landscape evolves while some of the advisory controls may be made mandatory. To facilitate adoption of mandatory and advisory controls, SWIFT developed compliance and attestation processes that require all customers to self-attest that they comply with the mandatory controls. Users are required to submit their self-attestation status reports in a dedicated security attestation folder known as KYC registry. The self-attestation reports must be submitted annually.

Why you need a SWIFT cyber security provider

A SWIFT cyber security provider offers security audits aimed at providing organizational management with a detailed assessment of their security procedures and policies in place as well as their operational effectiveness. Moreover, security audits identify SWIFT regulatory deficiencies and internal control gaps that could place the organization at risk of facing cyber-attacks. Security audits help financial institutions to understand how to best uphold SWIFT compliance year after year as well as how to develop effective security policies for protecting sensitive business data. Professional cyber security audits will focus on evaluating security procedures, guidelines, and standards as well as whether they are implemented effectively.


SWIFT cyber security providers must portray experience, track record, knowledge, and acquire certification as listed SWIFT cyber security providers. This ensures that they are capable of helping their client remain SWIFT compliant, protect and secure from the evolving cyber security threats. With the rising sophistication of cyber threats affecting financial institutions, it is advisable for organizations to retain one trusted SWIFT cyber security provider who understand their system well-enough to identify gaps before they cause detrimental data breaches.