IT compliance through the introduction of an ISMS

IT compliance through the intro­duction of an ISMS

Increasing compliance require­ments

The depen­dency of core and value-added processes on the IT infra­structure and the IT systems operated there is constantly increasing at credit insti­tu­tions. This means that the associated compliance require­ments are also increasing almost to the same extent”. In an article that has just been published on the specialist platform “Security Insider”, SRC expert Dagmar Schoppe explains the different regulatory and legal require­ments that determine the daily business of credit insti­tu­tions and how IT compliance is improved by the intro­duction of an ISMS.

Value creation processes are threatened

The protection of these value-added processes through compliance with regulatory and legal require­ments, e.g. from BAIT, MaRisk or the IT Security Act, is a very topical issue. After all, the danger of hacker attacks is a real and current threat. This is one of the reasons why IT security is one of the central audit focuses of the BaFin. The TIBER-EU programme, which is intended to strengthen the resilience of the financial world against cyber attacks, also aims in this direction.

Holistic infor­mation security management system creates security

For a holistic approach to the protection of corporate values, the various organ­i­sa­tional and technical aspects must be combined into a holistic concept. This leads to the intro­duction of an infor­mation security management system, e.g. on the basis of ISO 27001.

The experts of the SRC division Banking Compliance will gladly advise you on regulatory and legal require­ments and their imple­men­tation, e.g. by intro­ducing an infor­mation security management system (ISMS) or by carrying out TIBER tests. SRC is a member of the Cyber-Alliance.

New guidance on evidence under § 8a paragraph 3 BSIG

New BSI guidance on evidence according to § 8a paragraph 3 BSIG

The IT Security Act (IT-Sig) in conjunction with the KRITIS regulation has been in use for over five years. The main objective is the regulation of KRITIS operators according to the BSI Act. The Federal Office for Infor­mation Security (BSI) accom­panies law and regulation with the so-called BSI Orien­tation Guide to Evidence.

IT-Sig 2.0 — Is it coming or not?

Unfor­tu­nately, the topic “IT security law 2.0” has become very quiet lately. Therefore no amendment of the KRITIS regulation is to be expected in the short term. However, the current draft of the IT-Sig 2.0 can be taken from the present speaker draft. For example, the inclusion of waste management in the existing sectors is being considered. In addition, an expansion of the target group beyond the KRITIS operators to include companies in the special public interest (e.g. due to their economic impor­tance) is also being considered. For these companies, the prepa­ration of safety concepts, the oblig­ation to report incidents, the regis­tration and management of a reporting office and the trust­wor­thiness of the employees in the area are important. The planned tight­ening of the framework for fines from the previous maximum of EUR 100,000 to a maximum of EUR 20,000,000 (or 4% of the total annual company turnover worldwide in the previous business year) is partic­u­larly striking.

New guidance on evidence

While IT-Sig 2.0 is still a long way off, in the second half of August the BSI published its new “Guidance on evidence pursuant to Section 8a (3) BSIG”. Version number 1.1 already suggests it: the changes include many concreti­sa­tions and clari­fi­ca­tions of the facts and require­ments. In addition, there are further signif­icant changes. For example, the new Form P combines the infor­mation contained in the previ­ously used forms PD (test perfor­mance), PE (test results) and PS (testing body). In addition to the written submission, a digital/­ma­chine-readable copy is now also required. The list of safety deficiencies and the imple­men­tation plan are now combined in one document, while existing test results (maximum 12 months old) must be explicitly checked for topicality and stock. A clear innovation is the well-founded assessment of the maturity levels of the management systems for infor­mation security (ISMS) and business conti­nuity (BCMS). The strong focus on the aspect of trace­ability is also very noticeable. This becomes visible at various points:

  • Detailed description of the scope (with its inter­faces, depen­dencies and parts of the critical service operated by third parties) and
  • the instal­lation (including associated parts of the critical service and all essential features) as well as
  • Provision of a compre­hen­sible network structure plan.
  • In addition, a list of deficiencies must also be compre­hen­sible without the need for further documents.

Even without IT-Sig 2.0, the new BSI orien­tation guide requires attention. SRC experts will be pleased to discuss the innova­tions and their effects with you and support you in the imple­men­tation of the extended require­ments.

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 absolutely essential for the economic success of a credit insti­tution.

The new “Banking Super­visory Require­ments for IT” (BAIT) formulate concrete expec­ta­tions. Among other things, the Federal Financial Super­visory Authority calls for the newly estab­lished function of “infor­mation security officer” in its directive. This officer controls the infor­mation security process and reports directly to the management.

In cooper­ation with the publishing house Bank-Verlag, SRC has already success­fully completed six certificate courses to become an “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 for this four-day certificate course possible.

From 17th to 20th November 2020, you will again have the oppor­tunity to train as an “Infor­mation Security Officer (ISB) for Credit Insti­tu­tions” on the premises of Bank-Verlag GmbH in Cologne.

Achtung! Online-Seminar

Taking into account the current Covid-19 situation, we offer both the certificate course Infor­mation Security Officer (ISB) for credit insti­tu­tions and the optional basic IT seminar as an online course.

In a team with Heinrich Lottmann (TARGOBANK AG & Co. KGaA) and Alexandros Manakos (HSBC Germany), the SRC experts Dagmar Schoppe, Florian Schumann and Dr. Deniz Ulucay will give a lecture and provide you with compre­hensive infor­mation 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 of IT risks and emergency precau­tions as well as business conti­nuity management will be addressed.

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

Optionally, you have the oppor­tunity to acquire the basic IT knowledge required for the course in a one-day intensive seminar on 16 November 2020 in Cologne prior to the event. This seminar deals with the 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.

Payment 2030

Payment 2030 — The study on the future of payment in Germany

With the support of Z_Punkt — The Foresight Company, SRC has prepared the study Payment 2030. This study deals with the future of payment in Germany. It is the contin­u­ation of the study on Payment 2025 initiated in 2015. Besides updating the scenarios considered in 2015, the study primarily examines options for action for account-holding insti­tu­tions that arise with regard to the payment process of the future. The basis for this is a compre­hensive analysis of the trends and devel­op­ments already emerging today.

The study Payment 2030 addresses many questions: In what way have the relevant framework condi­tions changed compared to the previous study? How can account-holding insti­tu­tions react to new market partic­i­pants? What do innov­ative solutions in payment traffic look like? What new revenue sources and value-added services are conceivable? And what oppor­tu­nities and neces­sities for cooper­ation with partners within and outside the banking industry will arise in order to be prepared for “Payments 2030”?

Numerous experts from the banking industry, retail and technology providers were involved in the prepa­ration of the study. In this way, the horizon of the study was broadened and a broad spectrum of potential devel­op­ments was covered.

SRC provides you with the study Payment 2030 free of charge. Please under­stand the study as an invitation for dialogue. Therefore, we are looking forward to your comments, questions and sugges­tions. Please write to us at bezahlen2030@src-gmbh.de.

The study is available for download free of charge in German and English. Print copies are only available in German. They can be requested free of charge by stating the shipping address.

 

Transfer- und Perspek­tiv­work­shops

  • The key findings of the study Payment 2030
  • Discursive exami­nation of the proposed strategic direc­tions and recom­men­da­tions.
  • Valuable impulses and orien­tation for your strategy devel­opment.

This workshop is a joint offer by SRC Security Research & Consulting and Z_punkt The Foresight Company.

SRC recognized as SPoC/CPoC Lab by the PCI SSC

SRC recog­nized by PCI SSC as SPoC and CPoC 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.