Amendment of BAIT 2021

Amendment of BAIT 2021- The new require­ments for financial insti­tu­tions

The amendment of BAIT for 2021 means new require­ments for credit insti­tu­tions. In contrast, BaFin faces the challenge of imple­menting the Guide­lines on security measures for opera­tional and security risks under the PSD2 and the Guide­lines on ICT and security risk management of the EBA in Germany. This is to be completed by 31 December 2020 with an amendment to the BAIT (banking super­visory require­ments for IT). First drafts have already been discussed and commented on in the insti­tutes and associ­a­tions.

BAIT 2021 focuses on IT security

With a separate and new chapter, opera­tional IT security is moving further into focus. The require­ments formu­lated there can only be fulfilled with a Security Infor­mation and Event Management System (SIEM). This also includes the estab­lishment and operation of a Security Opera­tions Centre (SOC). Regular opera­tional checks are required. These include:

  • internal deviation analyses
  • Vulner­a­bility scans
  • Penetration tests
  • the simulation of attacks (“Red Teaming”)

The new require­ments of BAIT 2021 lead to the estab­lishment of a profes­sional cyber security infra­structure. This means extensive and independent internal infor­mation security struc­tures.

The management assumes overall respon­si­bility

It is noticeable that the draft already refers not only to the respon­si­bility of the management. The management is even required to explicitly acknowledge the overall respon­si­bility for infor­mation security. This also includes regular infor­mation about their concerns and the decision to deal with security risks appro­pri­ately.

Require­ments for IT emergency management are consol­i­dated

We expect further changes in the area of IT emergency management. The require­ments from BAIT will be consol­i­dated with those from section AT7.3 of MaRisk. This creates uniform national require­ments. In addition, we expect to tighten and specify the require­ments with regard to emergency planning and prevention, BCM, disaster recovery and backup strategies. In our view, outsourcing to service providers will also be covered by the revised version.

Financial insti­tu­tions face major challenges

According to the assessment of the SRC experts for bank compliance, the expected changes will pose great challenges for the affected insti­tu­tions. This concerns especially the required know-how and the limited resources on the labour market.

SRC-Expertin Ehlers: Standards of the Payment Card Industry (PCI)

SRC-Expert Ehlers: Standards of the Payment Card Industry (PCI)

PCI compliance requires know-how and resources.” SRC expert Jana Ehlers explains the different PCI security standards in an article which has just been published on the profes­sional platform “All About Security”.

In view of the increasing number of card payments in pandemic times, the protection of payment card data is a very current topic.

All PCI standards aim at protecting payment card data of inter­na­tional payment systems. The most well-known standard alone, PCI DSS, has around 250 individual require­ments. If these are already taken into account when setting up networks and struc­tures, there is often no need for complex and expensive retrofits. But also the permanent mainte­nance of PCI DSS conformity poses challenges for companies.

SRC examines and advises on PCI standards since their emergence in 2006. This experience can be used to correctly under­stand and consider the inten­tions of the PCI standards. SRC accom­panies through the whole process. Thus, not only PCI-conformity can be achieved in an under­standable way, but also a great deal more security for the customers’ payment card data worthy of protection.

Certificate_Course_ISB

Certificate Course “Infor­mation Security Officer for Credit Insti­tu­tions” — November 17 to 20, 2020

The German Banking Act (KWG) and MaRisk require banks to ensure the integrity, avail­ability, authen­ticity and confi­den­tiality of data in their IT systems and processes. But secure and efficient IT is also essential for the economic success of a bank.

The new “Banking Super­vision Require­ments for IT” (BAIT) formulate concrete expec­ta­tions. Among other things, the Federal Financial Super­visory Authority (BaFin) has issued a guideline calling for the new function of the “Infor­mation Security Officer ” to be set up. He or she controls the infor­mation security process and reports directly to the management.

In cooper­ation with Bank-Verlag, SRC has already success­fully completed six certificate courses for the “Infor­mation Security Officer (ISB) for credit insti­tu­tions”. After the great response and the continuing demand, we are pleased that the Bank-Verlag has made another date possible for this four-day certificate course.

From 17 to 20 November 2020, you will once again have the oppor­tunity of further training in Cologne to become an “Infor­mation Security Officer (ISB) for credit insti­tu­tions”.

In a team with Heinrich Lottmann (TARGOBANK AG & Co. KGaA) and Alexandros Manakos (HSBC Trinkaus & Burkhardt AG) the SRC experts Dagmar Schoppe, Florian Schumann and Randolf Skerka will give a lecture on the norms and standards according to ISO and IT-Grund­schutz, as well as on all legal/regulatory require­ments relevant for you as an ISB. In addition, the topics IT Risks and Contin­gency Management as well as Business Conti­nuity Management will be discussed.

After passing the final exami­nation, you will receive the certificate “Infor­mation Security Officer for Credit Insti­tu­tions”.

On 16 November 2020 you will also have the optional oppor­tunity to acquire the basic IT knowledge required for the course in a one-day intensive seminar in Cologne prior to the event. This course deals with basics, terms, encryption and IT security techniques in infor­mation technology.

EPayStandards Consortium

Frenchsys, Elitt and SRC found the EPay Standards Consortium

3 European leaders in Card & Digital Payments, launch the EPayStan­dards Consortium and propose a new joint consulting service offer composed of multi-scheme integration & imple­men­tation support services targeted to multi-country card acceptors, merchants or acquirers willing to expand efficiently at pan-European level.This new joint consulting & support service offer brings to the different European card payment stake­holders:

  • top level expertise in card and digital payment standards
  • perfect knowledge of French & German ecosystem to allow a smooth integration of their projects on these 2 key European markets
  • an exhaustive set of services for all the phases of the card & payment projects (strategic, technical devel­op­ments, testing, integration, certi­fi­cation prepa­ration, piloting, deployment & marketing)
  • an entry workshops to present all new standards for card payments and how to implement and use these standards

Supported by ELITT, FrenchSys and SRC, this new service is immedi­ately available and can be provided by the 3 partners of the EPay-Standards Consortium, best pool of experts, really motivated to make the Europe of payments a real success, available and highly knowl­edgeable about all the card & digital payments systems and innova­tions. Combines the exclusive expertise of ELITT, FrenchSys & SRC with more than 20 years of experience in:

  • all the inter­na­tional payment standards and initia­tives (nexo, CPACE, EMV, PCI, ECSG, ISO20022, Payment APIs, ATICA, SCC, SCTinst…),
  • all leading card schemes (American Express, Bancontact, CB, Discover, girocard, JCB, Mastercard, STMP, UnionPay, Visa…),
  • all the European and domestic regulators and other stake­holders of the digital payment ecosystem.
Corona

Despite Corona — the support of SRC is certain!

The corona virus has reached our everyday life. The pandemic is directing our focus on what is now the most important thing: the protection of the health, safety and well-being of our employees, our partners, customers and families.

The vast majority of our employees use the oppor­tunity to work from home; some are available at the locations to sign, receive mail and much more.

In the relatively short period of time it has already become apparent that the staff of SRC is very committed to ensure the conti­nuity of the opera­tional processes.

Especially in these difficult times, we pay special attention to the concerns of our customers. We are still in a position to support our customers, some of whom operate urgently needed critical infra­struc­tures, compre­hen­sively and with a maximum of flexi­bility. We will continue to meet our great respon­si­bility and oblig­ation towards our customers in these times.

Even if many of us are not at the SRC locations: We are still available for you via the usual commu­ni­cation channels.

We continue to do what we are good at.

As an alter­native to on-site appoint­ments we have, for example, developed proce­dures for remote support. We can …

  • conduct consul­ta­tions and inter­views in the form of telephone confer­ences,
  • Check system settings using web confer­ences,
  • Carry out on-site inspec­tions using video trans­mis­sions.

Please contact your contact person at SRC in order to coordinate the concrete procedure.

We at SRC are convinced that we will learn from the experi­ences of this situation for our future. We will emerge strengthened from this crisis.

Please pay attention to the health of your fellow men and families.

SRC recognized as SPoC/CPoC Lab by the PCI SSC

SRC recog­nized by PCI SSC as SPoC and CPcC Security Lab

Today, the worldwide operating PCI Security Standards Council has recog­nized SRC as the fourth laboratory for the perfor­mance of security tests for SPoC and CPoC solutions.

With SPoC solutions (Secure PIN Entry on Commercial-off-the-Shelf devices) a merchant can accept payments with commer­cially available mobile devices.

While the SPoC program describes solutions with PIN entry, the CPoC program is aimed exclu­sively at contactless solutions that do not require PIN entry.

A SPoC solution consists of four core compo­nents

  • a Secure Card Reader for PIN (SCRP), an external and PCI PTS approved card reader,
  • a tested PIN CVM App for secure PIN entry on the merchant’s standard mobile device,
  • the retailer’s mobile device (COTS device) such as a smart­phone or tablet, and
  • a background system that contributes signif­i­cantly to the security of the overall system by means of attes­tation, monitoring and processing.

With CPoC, the PCI SSC has developed require­ments for solutions for processing contactless payments without PIN entry (“Tap and Go”) on commer­cially available mobile devices (commercial off-the-shelf, COTS), such as smart­phones or other mobile commercial off-the-shelf (COTS) devices with NFC interface.

With the SPoC and CPoC programs, the PCI SSC meets the increasing demand for new and secure accep­tance solutions and ensures security in the accep­tance of payments via mobile phones and tablets. The corre­sponding tests are now also carried out by SRC.

The recog­nition of SRC as a lab for the programmes SPoC and CPoC is an important signal to the market. Customers from this innov­ative environment can now also make use of SRC’s expertise for the devel­opment of secure payment solutions.

PCI DSS guidance for Large Organizations

PCI DSS best practices guidance for large organi­za­tions published

SRC Security Research & Consulting GmbH contributed to the most recent PCI (Payment Card Industry) Security Standards Council Special Interest Group (SIG). The resulting guidance on PCI DSS for Large Organi­za­tions is now published.

Complex organi­za­tions, corpo­ra­tions and companies often face specific challenges when imple­menting PCI DSS (Payment Card Industry Data Security Standard) require­ments: the hetero­geneity of their infra­struc­tures and processes, the constant change of corporate struc­tures, and dealing with diverse require­ments, respon­si­bil­ities and management tasks.
The new guidance on PCI DSS for Large Organi­za­tions helps large and/or complex organi­za­tions coordinate and manage their PCI DSS activ­ities across multiple environ­ments.

  • PCI DSS guidance for Large Organi­za­tions //document.
OMNISECURE 2020

SRC is partner of OMNISECURE 2020

As experts for IT security, we at SRC know that levels of protection are essential in the digital­ization of industry and society. The experts from the industry will present the security concepts required for this at the annual OMNISECURE. As a partner of OMNISECURE, SRC tradi­tionally enriches the discourse on these topics with the knowledge we have gathered in many projects. The OMNISECURE will take place in Berlin from 20 — 22 January 2020.

Electronic identi­fi­cation and the security required for it are one of the overar­ching topics at SRC and at the same time the core topic of the event. For SRC, the OMNISECURE provides an important platform for the cross-industry exchange of knowledge and experience with experts, specialists and execu­tives from business, politics, public admin­is­tration and science.

As a partner of OMNISECURE, SRC makes its contri­bution to provide partic­i­pants with a compre­hensive overview of new appli­ca­tions, hazards and solutions, technology trends, progress or delays in well-known, trend-setting projects. Ideas and relevant legislative projects are discussed in the same way as failures, from which one can always learn. The OMNISECURE offers a wealth of food for thought and encounters with renowned experts. It is not unusual for the foundation stones for future projects and decisions to be laid here.

We at SRC are looking forward to two rich days and to the varied and rich discus­sions with experts and customers.

EMVCo

SRC recog­nised as SBMP Evalu­ation Laboratory by EMVCo

Mobile Payments: From chip card to mobile device

Mobile Payment is an electronic form of payment using mobile devices such as mobile phones, tablets or smart­watches. Electro­mag­netic, i.e. contactless, techniques are used to initiate, authorise and realise the payment. This makes the security of this form of payment a challenge.

EMVCo and Software-Based Mobile Payment (SBMP) Programme

EMVCo, which defines and further develops the EMV standard and checks its imple­men­tation, addresses these challenges with its new SBPM approval process. SBPM stands for Software-Based Mobile Payment Evalu­ation Process. This evalu­ation examines whether the security mecha­nisms and protective measures of a component or solution have the minimum security level defined by EMVCo. Manufac­turers are certified with a security assessment certificate that their products can withstand known attacks.

With the SBPM approval process, EMVCo supports the global security and inter­op­er­ability of mobile payment trans­ac­tions. The range of security assessment processes has so far included products for integrated circuits (IC), platforms and integrated circuits (ICC). For the first time, EMVCo has extended the scope of its approval processes to include software compo­nents and solutions for mobile payments.

EMVCo recog­nises SRC as SBPM Evalu­ation Laboratory

SRC is recog­nized by EMVCo as a security lab/assessor for the security assessment of software-based mobile payment solutions and compo­nents, in addition to the existing Mastercard and Visa recog­ni­tions.

SRC performs compre­hensive checks of the security mecha­nisms of a Mobile Payment App or its compo­nents. The imple­mented measures are examined using state-of-the-art methods, such as reverse engineering, side channel and runtime analyses, and their resilience/resistance to attackers and protection against misuse is evaluated.

If you are inter­ested in further infor­mation on the subject or the evalu­ation of your payment solution, please contact us.

Unternehmenstag 2019

Unternehmenstag 2019 — SRC partic­i­pates again!

Unternehmenstag 2019 — The Career Fair for Students and Career Starters

The end of the studies is in sight. The degree is within reach. At the latest now, students and graduates need contact to their future employer. SRC is looking forward to this contact. Two days at the University of Applied Sciences Bonn Rhein-Sieg on the campus in Sankt Augustin. This is where the Unternehmenstag 2019 takes place on 13 and 14 November.

The job fair will be rounded off with a wide range of offers relating to careers and career planning. These include lectures, appli­cation photos, job boards and much more.

Career in ITSRC provides an insight into exciting areas of respon­si­bility

SRC will also be happy to give students and graduates the oppor­tunity to gain an insight into and exchange views on the diverse topics of IT security at the Unternehmenstag 2019. The SRC experts will explain everyday life and the challenges in the assessment of security-relevant IT technologies. A selection of current topics are, for example, mobile payment methods, artificial intel­li­gence and critical infra­struc­tures. We expect our new colleagues to have a strong instinct for potential sources of error in complex technologies, the compe­tence to find solutions and the assertiveness to represent the results of their work to clients.

Current job offers on our career portal

Whether as a working student in our customer management or as a scanworker in the pentest team — completing diverse and exciting tasks while studying is no problem for us. But also graduates will get what they are looking for — we are looking for pentesters, consul­tants and analysts for different areas in our company.

Students and graduates are welcome to inform themselves in advance on our career portal about vacancies at our company. We will be happy to answer any questions you may have at the Unternehmenstag! You also have the option of submitting your appli­cation documents directly to us on site.