Annual Mandatory Exercise for The SWIFT CSCF Compliance Assessment

24 Nov
Kuwait

KUWAIT CITY, STATE OF KUWAIT, November 24, 2021 /EINPresswire.com/ — Baker Tilly Kuwait launched SWIFT CSCF Compliance Assessment for all SWIFT users as mandated by The Society for Worldwide Interbank Financial Telecommunication (SWIFT). Furthermore, as per the Cybersecurity Framework for Kuwaiti Banking Sector, Control No. 4.5.2, item (d), the Central Bank of Kuwait requires Regulated Entities to comply with the latest version of the applicable best practices and standards such as SWIFT Customer Security Controls Framework.

This exercise can be defined as the assessment of SWIFT users’ level of compliance with a set of mandatory controls as described in the Customer Security Controls Framework (CSCF).

SWIFT developed the Independent Assessment Framework, which governs and articulates the SWIFT CSCF Compliance Assessment based on the Customer Security Controls Framework (CSCF) under the Customer Security Program introduced by SWIFT.

As of 2021, the Customer Security Controls Framework (CSCF) comprises 31 mandatory and advisory security controls that SWIFT users should implement to secure their operating environment. CSCF also has 3 objectives and 8 principles.

There are eight main domains that should be reviewed under SWIFT CSCF Compliance Assessment, i.e., Restrict Internet Access; Segregate Critical Systems from General IT Environment; Reduce Attack Surface and Vulnerabilities; Physically Secure the Environment; Prevent Compromise of Credentials; Manage Identities and Segregate Privileges; Detect Anomalous Activity to Systems or Transaction Records, and Plan for Incident Response and Information Sharing.

It is worth mentioning that Baker Tilly is well-positioned to provide CSCF Compliance Assessment service in an independent and objective manner, as it has an academically and professionally qualified team with previous experience in the field of CSCF Compliance Assessment.

About Baker Tilly Kuwait:

Baker Tilly in Kuwait is an independent member of the Baker Tilly International network based in the UK, ranked amongst the top 10 global accounting networks. The firm provides auditing, assurance, and tax services as well as consulting & advisory services in accounting, investment, management, financial, actuarial, and information technology to assist several sectors such as government, oil and gas, banks, listed companies, licensed companies and other entities.

Baker Tilly Kuwait
+965 1887 799
info@bakertilly.com.kw
Hisham Sorour
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