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Privileged Access and the SWIFT Customer Security Control Framework

Privileged Access and the SWIFT Customer Security Control Framework

Privileged Access and the SWIFT Customer Security Control Framework

Used by more than 11,000 customers in over 200 countries, SWIFT provides financial messaging services to banks, financial institutions and corporations all over the world.

With so much sensitive data and financial information being transferred using SWIFT, it has become a major target for cybercriminals.

It’s big business, with big numbers.

  • In August 2018 India’s Cosmos Bank lost $13.5 million in an attack using unauthorised SWIFT transactions.
  • In February 2016, the Central Bank of Bangladesh lost $81 million to attackers via SWIFT.
  • In January 2015, $12 million was stolen from Ecuadorian bank Banco del Austro using SWIFT.

To combat this, SWIFT introduced its Customer Security Control Framework (CSCF), which all users must adhere to.

IN THIS WHITE PAPER YOU’LL DISCOVER

How Thycotic Privileged Access Management platform maps to the core elements of mandatory controls in SWIFT’s CSCF Framework, so that banking and finance IT teams can deliver:

  • Visibility of privileged accounts, users, systems and operations.
  • Role-based access control and a principle of least privilege across your business.
  • Strong and intelligent authentication for all users and applications that require privileged access.
  • Identification of anomalous behaviour and it’s successful remediation.

Get the full Report now