Company Directory - The Society for Worldwide Interbank Financial Telecommunication
Company Details - The Society for Worldwide Interbank Financial Telecommunication
The Society for Worldwide Interbank Financial Telecommunication
WebsiteLa Hulpe, Belgium
SWIFT is a global messaging network that enables secure, standardized communication for international money transfers and other financial transactions among banks and financial institutions worldwide. As a cooperative, it plays a critical role in the global financial infrastructure, providing robust, reliable services for member institutions.
CCI Score
CCI Score: The Society for Worldwide Interbank Financial Telecommunication
18.16
-0.01%
Latest Event
SWIFT Implements Sanctions by Removing Russian Banks
Under US sanctions, SWIFT removed several Russian financial institutions from its global payment messaging network, effectively restricting their access to international financial systems. This action supports anti-authoritarian measures by cutting off funds used for war and kleptocratic practices.
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SABOTEUR
The Society for Worldwide Interbank Financial Telecommunication is currently rated as a Saboteur.
Latest Events
- JAN082025
Under US sanctions, SWIFT removed several Russian financial institutions from its global payment messaging network, effectively restricting their access to international financial systems. This action supports anti-authoritarian measures by cutting off funds used for war and kleptocratic practices.
+80
Public and Political Behavior
March 30
SWIFT’s compliance with US sanctions by excluding Russian banks from its messaging network reinforces international efforts to curb the financial capabilities of authoritarian regimes. This move is seen as a strong political stance supporting anti-fascist measures by restricting resources for aggressive, kleptocratic behaviors.
Sanctioned kleptocracy: How Putin’s kremligarchs have survived the war—and even prospered
+70
Technology and Services Impact
March 30
By leveraging its secure financial messaging system to enforce international sanctions, SWIFT demonstrates the responsible use of technology. This action disrupts authoritarian financial networks and protects global financial integrity.
Sanctioned kleptocracy: How Putin’s kremligarchs have survived the war—and even prospered
- MAR012023
The article details how, in response to Russia’s war in Ukraine, US and European Commission authorities have excluded several Russian banks from the SWIFT messaging system. As SWIFT is controlled by central banks in key democratic nations, its network plays a crucial role in enforcing economic sanctions that aim to restrict the financial flows sustaining authoritarian aggression.
+50
Public and Political Behavior
April 1
SWIFT’s operational framework has been leveraged to implement sanctions against Russian banks, a move that helps disrupt the funding of an authoritarian regime. This political use of financial infrastructure aligns with anti-fascist principles by impeding war financing and aggressive authoritarian behavior.
+40
Economic and Structural Influence
April 1
SWIFT's integral role in global financial communications is being used as part of economic sanctions. By excluding Russian banks, its infrastructure contributes to leveraging economic pressure against authoritarian aggressors, reflecting a positive alignment with anti-authoritarian and anti-fascist objectives.
- MAR032022
SWIFT, long known for its neutral role in international financial messaging, banned seven Russian banks as part of the sanctions imposed amid the Ukraine war. This decision, while supporting efforts to penalize war aggression, raises concerns about inadvertently accelerating the rise of alternative systems that may be controlled by authoritarian regimes.
+20
Public and Political Behavior
October 1
SWIFT’s decision to exclude Russian banks aligns with international sanctions aimed at penalizing war aggression, serving as an anti-authoritarian measure that counters fascist behavior. This step, taken under significant political pressure, supports efforts to hold aggressor regimes accountable.
-10
Economic and Structural Influence
October 1
While the ban is intended to weaken an aggressive regime, it breaks from SWIFT’s long-held principle of neutrality. This departure risks catalyzing the development and adoption of alternative systems that may be influenced by authoritarian states, thereby negatively impacting global economic structures.
- FEB282022
SWIFT announced that it is preparing to comply with legal directives by engaging with European authorities to disconnect selected Russian banks from its global messaging network, following Western sanctions aimed at limiting Russia's financial capabilities amid its invasion of Ukraine.
+40
Public and Political Behavior
April 1
SWIFT's decision to disconnect selected Russian banks in response to international legal directives supports anti-authoritarian measures. This compliance helps isolate an aggressive regime and aligns with efforts to counteract fascist practices by limiting financial flows for states engaging in unjust warfare.
+15
Technology and Services Impact
April 1
SWIFT’s global messaging infrastructure plays a pivotal role in enabling international sanctions by facilitating secure communications. Its technology, when used to enforce disconnections from the Russian banking system, demonstrates a crucial impact on limiting the operational capabilities of authoritarian regimes.
- FEB262022
Following the Russia-Ukraine conflict, SWIFT removed select Russian banks from its messaging network as part of a coordinated set of sanctions announced by the United States, the European Commission, and the United Kingdom. This move disrupted international financial transactions tied to Russia and contributed to the global effort against authoritarian aggression.
+40
Public and Political Behavior
March 30
SWIFT's compliance with international sanction measures aligns the cooperative with global efforts to counter authoritarian aggression, thereby reinforcing anti-fascist policies by denying economic support to an aggressive regime.
+30
Economic and Structural Influence
March 30
By enforcing the sanctions that restrict Russian banks from accessing its network, SWIFT plays a role in destabilizing the economic infrastructure that supports authoritarian regimes, thereby promoting a more accountable and resilient international financial system.
- JAN012012
In 2012, under strict EU regulations, SWIFT was compelled to suspend its messaging service for certain Iranian banks as part of international sanctions. This enforcement disrupted the targeted banks' global financial communications until easing of the measures in early 2016, reflecting SWIFT’s adherence to regulatory mandates intended to counter regimes engaged in human rights abuses.
+10
Public and Political Behavior
April 1
SWIFT’s role in implementing EU sanctions—though mandated rather than voluntarily adopted—helps isolate regimes linked to authoritarian practices. By enforcing EU rules, SWIFT indirectly supports measures aimed at protecting human rights and promoting accountability in international relations, aligning with anti-fascist objectives.
SWIFT and Sanctions: How Banking System Impacts International Relations
- SEP282006
Belgian authorities and the ACLU have condemned SWIFT for its involvement in a surveillance program that allegedly violates Belgian privacy law by enabling unauthorized monitoring of international bank transfers, highlighting issues with transparency and data protection.
-60
Public and Political Behavior
March 30
The report by Belgium’s Privacy Commission and the ACLU press release indicate that SWIFT failed to comply with national privacy laws, effectively aligning with practices that could support authoritarian surveillance. This behavior undermines public trust and demonstrates a significant disregard for civil liberties.
-70
Provision of Repressive Technologies
March 30
SWIFT’s continued involvement in a program that facilitates unauthorized surveillance using its messaging network demonstrates complicity in providing technologies that can be exploited for repressive oversight, thus undermining international privacy standards.
- SEP142006
The article details allegations that SWIFT's messaging network is being exploited for secret government spying on international financial transactions. Multiple reports and memos, including one from the Article 29 Working Party dated 2006-09-14, question the legality of such surveillance practices, suggesting that the network is facilitating authoritarian monitoring.
-70
Provision of Repressive Technologies
March 30
Reports indicate that SWIFT's secure messaging network is being used as a conduit for government surveillance activities, which undermines privacy and supports authoritarian practices. The association with repressive state actions, as highlighted by the ACLU and related documents, raises serious ethical concerns about the role of the technology in supporting undemocratic state power.
SWIFT: Secret Government Spying on International Financial Transactions
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