CBI directs Banks to implement SWIFT Standards

The Central Bank of Iraq (CBI) has directed all Iraqi banks to adopt user protection standards approved by SWIFT before the end of 2017.

The bank explained that the standards of the 16-user protection network can be summed up by the need to restrict access to the Internet, separate sensitive systems from the overall IT environment, and mitigate cyber-attacks and vulnerabilities.

Other security measures include security intuition to protect against access to Internet sites, storage and prevention of safe password detection, management of bank identification numbers, separation of privileges, detection of suspicious activities within the system, registration of operations and plans to respond to various situations (errors and incidents) and information sharing.

(Source: Central Bank of Iraq)

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