In the first part of our blog series, “Overview of the Swift CSP 2024 Updates” we delved into the latest updates in controls as a proactive response to combat various cyber heists. This blog focuses explicitly on our in-depth understanding of the complex cybersecurity challenges pervasive in this field. ECS Fin has a unique set of credentials that performs assessments of operational and security providers against a framework based on Swift CSCF 2024. We are committed to assisting you through each stage, guaranteeing a smooth and prosperous attestation for Swift’s Customer Security Programme (CSP).
The introduction of Swift’s Customer Security Programme Assessor Certification marks a substantial advancement in bolstering the security of financial messaging services. This framework not only boosts the confidence and consistency of Swift users but also grants them access to certified assessments. Failing to comply with the standards, Swift holds the right to report the organizations to the industry regulators.
For the corporations and financial institutions facing the Swift CSP 2024 controls deployment process, ECS Fin has developed a radical constructive strategy to facilitate the security control lifecycle. We religiously follow PDCA- (Plan- Do- Check -Act) to support the Customer Security Program (CSP) tested against a set of criteria that is reviewed every year to help ensure that certification criteria remain appropriately aligned with the evolution of Swift user needs. Let’s uncover every aspect of this framework in detail.
This phase operates within a meticulously designed framework, establishing the strategic, tactical, and operational objectives of the process to assess controls and evaluate architectural styles for subsequent remediation processes. The key steps within this phase include:
This phase typically represents the activities that need to be done:
This phase marks the concrete realization of the strategies and plans laid out during the planning stage.
In the checking phase, the emphasis is put on validating the accurate execution of tasks according to the established planning and objectives. This phase involves:
This phase serves as a critical checkpoint to identify any deviations from the planned objectives.
The acting phase (ACT) focuses on addressing and correcting any issues encountered during the previous stages. This involves:
Additionally, this phase involves taking proactive steps for continuous improvement and optimizing the system based on the insights gained from the entire process.
ECS Fin is an engineering enterprise that specializes in process optimization. We design software solutions with a systems approach to transaction processing.
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