Swift Assessment

SWIFT (Society for Worldwide Interbank Financial Telecommunications) is a member-owned cooperative that provides a worldwide platform for financial institutions to exchange details of transactions in a secure and structured manner.

Swift Assessment CSP was launched in 2016 to reinforce the security of the SWIFT community, which ultimately addresses cyber risks for global payments and enhances trust within the SWIFT community & other corporations with connections to the SWIFT networks. The CSP establishes a common set of security controls known as the Customer Security Controls Framework (CSCF), designed to help customers secure their local environments and foster a more secure financial ecosystem.

As per SWIFT Assessment CSP, every organization should define, document, implement, and independently attest that their SWIFT environment is compliant with SWIFT’s CSCF objectives, principles, and controls. Version 2022 of the SWIFT CSCF consists of 23 mandatory and nine advisory controls. Therefore, all the members must perform an independent assessment to demonstrate their compliance with SWIFT CSCF v2022 by the end of 2022.