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What is the SWIFT CSP framework?

Used by more than 11,000 organisations to simplify money transfers across the world, the SWIFT network is an important mechanism for inter-bank, international transactions. Facilitating billions of dollars of transactions every day, SWIFT is a high-profile target for cyber security.

To better protect customers and the global banking network, Society for Worldwide Interbank Financial Telecommunication (SWIFT) has introduced the Customer Security Program (CSP). SWIFT CSP documents a series of IT security controls that every organisation using the network must comply with.

CSP compliance requires your organisation to demonstrate the ability to secure your IT environment, understand and limit access to those systems, and be able to detect and respond to cyber security events.

Why do I need to comply with the SWIFT CSP framework?

01

To maintain access to SWIFT

Access to the SWIFT network is completely reliant on achieving compliance. You must meet the demands of the CSP framework, or your business cannot use SWIFT for interbank transactions. And you need to demonstrate ongoing compliance every year too.

02

To raise security standards

By implementing both mandatory and advisory controls from the CSP framework, you will build a best-of-breed security system. These same principles can be extended to your entire IT estate to improve protections across all of assets.

03

To better protect customers – and your business

SWIFT payments are crucial for many digital transactions. If your business loses access to the network, you will also lose customers who rely on SWIFT payments.

04

To avoid prosecution

Losing access to the SWIFT network is just one penalty for failing to comply with the CSP framework. Your organisation may also be reported to the relevant industry regulator – like the Financial Conduct Authority (FCA).

Our Approach

Compliance testing

SWIFT CSP compliance is self-certifying – but you will need evidence of testing and improvements in the event of an audit. Fidus can carry out the necessary assessments, including penetration testing, to ensure you meet the CSP objectives.

Compliance declaration

As well as conducting security tests, Fidus will generate the reports and statements required to support your CSP compliance declaration.

Incident response planning

Checking your IT security controls is just one aspect of SWIFT CSP compliance. Fidus will also help you to draw up an incident response plan that documents processes and procedures for detecting, mitigating and reporting a cyber security event.

Implementation assistance

More than simply providing a report that documents testing outcomes, Fidus consultants are on hand to implement our recommendations too. Working alongside your IT security team, we can ensure you have the right measures in place to pass your annual SWIFT CSP assessment.

Talk to use about your SWIFT requirements today

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Why Fidus?

Penetration testing reveals your most sensitive network vulnerabilities – so you need a partner you can trust. Fidus Information Security are an NCSC CHECK Green Light and TIGER scheme approved consultancy. Our cyber security experts hold someof the most recognised certifications in the industry, including CREST Certified Tester and Senior Security Tester. Fidus is also a Cyber Essentials verified company. Every assessment we perform is carried out according to UK industry approved methodologies (OWASP, PETS, NIST) along with our own internal testing frameworks.

Remedial Support

More than just identifying security vulnerabilities, our cyber security experts are on hand to help you fix them too.

Certified Security Consultants

Our CREST and TIGER approved team holds a range of industry-leading security certifications including OSCP, CCT, SST and CISSP

Easy to Understand Reports

We’ll ensure that your executives and technical teams properly understand our assessment findings using plain-English reporting.

Fixed Price Proposals

The price you’re quoted is the price you’ll pay. Our quotes are broken down into a detailed costing table so you know exactly what to expect.

The Industry Average

Other approaches we've witnessed have included convoluted steps and commonly ends with incorrect information being handed to the consultant assigned to the engagement.

The Fidus Way

Our approach to security involves a qualified security consultant through the entire process to ensure quality, accuracy and consistency.

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