Description
SWIFT mandates that all connected banks implement standardized cyber incident response protocols by 2026. Banks must establish formalized incident response procedures aligned with SWIFT CSP requirements, including detection, containment, eradication, and recovery phases. Banks must also demonstrate capability for coordinated response with SWIFT's CIRT.
Requirements
- Establish formalized incident response procedures aligned with SWIFT CSP
- Implement detection, containment, eradication, and recovery phases
- Demonstrate coordinated response capability with SWIFT CIRT
- Conduct incident response exercises and tabletop drills
- Document incident response protocol compliance
Applicable To
SWIFT-connected banksSWIFT-connected securities firmsSWIFT-connected market infrastructures
Penalty Information
âš Non-compliance may result in regulatory reporting, restricted SWIFT access, and reputational damage.