Regulatory Alerts2026-08-19
Added · Updated
Circular 1/2026: Security Controls Framework for SWIFT Customer-to-Customer Messages
The Central Bank of Libya mandates that all banks and financial institutions implement the SWIFT Customer Security Controls Framework (CSCF) for Customer-to-Customer messages, requiring authentication, encryption, restricted access, segregation of duties, regular audits, and incident reporting within 24 hours. Compliance must be achieved within 30 days, with non-compliance subject to regulatory sanctions including fines and suspension of SWIFT services. The circular updates previous security standards established in 2005 and applies immediately to all licensed financial entities in Libya.
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