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SWIFT community initiative for Ukraine

Dear Sirs&madam,

SWIFT is inviting all the financial institutions in Ukraine to join the community initiative specially made for your country to help you respond to fraud and cyber-threats.

The recent rise in cyber threats requires that all financial institutions re-evaluate the security and protection of their payment environments. Cyber-criminals have turned their focus to the global financial system. They are sophisticated, use advanced tools and technologies and invest heavily in their fraudulent activities.

In May 2016, SWIFT launched a new Customer Security Programme to strengthen the security of the global financial community against cyber threats, consolidating and building upon existing SWIFT and industry efforts. As part of this programme, SWIFT is encouraging customers to protect their environments through improved security controls and tools. SWIFT is also looking at how best the community can use transaction pattern detection tools to mitigate the risks associated with wire payment fraud.

Daily Validation Reports are a new addition to the SWIFT financial crime compliance portfolio and have been developed as part of the Customer Security Programme. They are designed to supplement customers’ existing fraud controls and are specifically tailored to meet the needs of smaller institutions.

As part of the country deal, as from “at least” 5 institutions joining the initiative, SWIFT will give a recurring pricing incentive to the customers.

As from 10 institutions, the pricing incentive will be higher.

As from 20 institutions, all the institutions they will receive the highest recurring incentive.

 The deadline is end of August to officially join the initiative.

The week of 18th of April, SWIFT will be providing the demos of the solution to show how the tool can help you. Please contact Iryna Lytovchenko, Oksana Vorontsova, phone +380 44 538 10 20 to receive more information.

 We are looking forward to seeing you joining this community initiative specially made for Ukraine.


Kind Regards

Gizem Tansu

SWIFT Manager Financial Crime Compliance Unit

Europe, Middle-East and Africa