NRB SWIFT Update Directive: Strengthening Banking Cybersecurity

Published on 2024-03-10

## Background Following the 2017 NIC Asia SWIFT hack and subsequent incidents globally, Nepal Rastra Bank (NRB) issued updated directives requiring all licensed banks to implement enhanced SWIFT security controls. The directive, released in late 2023, mandates compliance with SWIFT's Customer Security Programme (CSP). ## Key Requirements ### 1. Mandatory Security Controls NRB now requires all A and B class banks to: - Implement multi-factor authentication for SWIFT terminals - Maintain air-ga...

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