BS 7101:1989 - Procedures for protecting authentic wholesale messages between financial institutions
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Authentication Procedures:
Specifies procedures for authenticating the source of messages.
Includes cryptographic methods to verify sender identity and message integrity.
Message Integrity:
Defines methods to ensure that the contents of the message have not been altered in transit.
May include use of Message Authentication Codes (MACs) or digital signatures.
Communication Security:
Recommends the use of secure communication protocols and transmission controls.
Addresses threats such as interception, forgery, and replay attacks.
Key Management:
Provides guidance on the generation, distribution, storage, and replacement of cryptographic keys.
Emphasizes secure handling of shared keys used for message authentication.
Operational Procedures:
Details procedures to be followed by sending and receiving institutions, including:
Logging and auditing of messages
Error handling and exception management
Message validation steps
Applicability:
Designed for interbank and financial institution networks, particularly in high-value payment systems, clearing systems, and real-time gross settlement (RTGS) systems.
Verification; Codes; Messages; Financial institutions; Data transmission; Data transfer; Data processing;
Coding (data conversion); Data layout; Finance; Banks; Information exchange
