New national security standard for bank and financial transactions approved

The GOST R 57580.1-2017 ‘Financial (Bank) Transaction Security. Data Protection in Financial Organisations. Core Arrangements and Controls’ national standard of the Russian Federation has been approved. The Bank of Russia website published a copy of Rosstandart Order No. 822-st, dated 8 August 2017.

The standard will become effective from 1 January 2018.

The document covers requirements for all core data protection processes, including protection against malicious codes, data leaks and compromised IT infrastructure integrity. Special focus is given to requirements for data protection during remote access from mobile devices.

The standard provides for a comprehensive approach to planning, implementation, control and development of the data protection process in financial organisations.

The document also contains requirements for data protection at all lifecycle stages of automated systems and applications used by companies and banks.

The new standards will allow financial organisations to enhance protection against cyber-crimes and ensure stable and uninterrupted customer service.