SWIFT announced the changes on Sept. 27, saying that inspections and enforcement will begin Jan. 1, 2018. Draft standards will be released next month for a two-month vetting process; they’ll be finalized and published by the end of March 2017. The move is meant to ensure that rigorous cybersecurity discussions are taking place at all of the more than 11,000 institutions – across 200 countries – that use SWIFT’s interbank messaging software and network, as well as between banks and their regulators. SWIFT has faced criticism from some industry watchers – and questions from legislators and regulators.”]
Source: https://www.cuinfosecurity.com/swift-will-begin-enforcing-mandatory-security-controls-a-9421