SWIFT (Society for Worldwide Interbank Financial Telecommunication) manages a huge number of transactions every day for banks and other financial players via its secure messaging system. As a result, there have been cases of member institutions being compromised and used by cybercriminals to send fake messages that other members act upon in good faith.
The Customer Security Controls Framework is a security standard implemented by SWIFT and designed to mitigate these risks. Members must adhere to the Framework and attest to their level of compliance with the security controls. To achieve the kind of network-wide access required to achieve this requires an integrated, multi-pronged approach to security.