In the present online world a strong security is utmost important to prevent the cyber data threats. Data threat is a very big problem for all the organizations that have an online presence. That is why it is important to have a good program for the business and a good SWIFT Cyber Security provider to partner.
What is SWIFT cybersecurity?
The SWIFT framework provides a set of mandatory security controls for the SWIFT customers. In this framework, all the customers are required to confirm and attest complete compliance using the mandatory security controls by 2018.
The attestation procedure for the customers can be completed in-house with their own cyber security experts. However some customers also look for third-party partners to address their cyber security needs. They hire experts within their organization to comply with the mandatory controls. A SWIFT cyber security provider helps with the process of cyber security and data protection.
SWIFT has a comprehensive directory of providers for their customers and reference points to find the relevant SWIFT cyber security provider in their area. There are several factors taken into consideration and a set of criteria to assign a SWIFT cybersecurity provider. These include:
- Cyber security services offered, their experience and their credentials are taken into consideration.
- Their focus on cyber security and the strategy followed are considered as well.
- The SWIFT cybersecurity provider should have a good reputation and also an undeterred commitment to the customers and their finances.
Diligence of the customers
A SWIFT Cyber Security provider directory only guides the customer to the right companies. However the customer is free to choose a third-party provider. The customers are solely responsible for completing their own diligence when they select a SWIFT cyber security provider or other entities offering such services. For example, the customer needs to verify the individuals working for the selected providers. Some of the points to consider during this process are:
- The customer should ensure that the SWIFT cyber security provider has sufficient knowledge of SWIFT and SWIFT security framework. This includes the understanding of the security control framework and the mandatory and advisory controls. A thorough knowledge of SWIFT can help the business to enhance their security needs and controls.
- The SWIFT cybersecurity provider should have the necessary and recognised qualifications in the industry. All the consultants should be able to maintain industry relevant security qualifications and other certifications like PCI, ISO, CISA, CISM and CISSP. Along with these, they should also be in possession of CompTIA Security+ qualifications
SWIFT cyber security provider can secure the organization by providing comprehensive data security and control along with access to PII information. However, this information cannot be breached and has to be stored in a secure location. PII data leaks are taken very seriously by authorities. There have been several instances where the data of many customers was compromised. These kinds of incidents discourage many people from using online services and they do not divulge with some required information.