<s>
The	O
Society	B-Protocol
for	I-Protocol
Worldwide	I-Protocol
Interbank	I-Protocol
Financial	I-Protocol
Telecommunication	I-Protocol
(	O
SWIFT	B-Protocol
)	O
,	O
legally	O
S.W.I.F.T.	B-Protocol
</s>
<s>
It	O
also	O
sells	O
software	O
and	O
services	O
to	O
financial	O
institutions	O
,	O
mostly	O
for	O
use	O
on	O
its	O
proprietary	O
"	O
SWIFTNet	O
"	O
,	O
and	O
assigns	O
ISO	O
9362	O
Business	O
Identifier	O
Codes	O
(	O
BICs	O
)	O
,	O
popularly	O
known	O
as	O
"	O
SWIFT	B-Protocol
codes	O
"	O
.	O
</s>
<s>
The	O
SWIFT	B-Protocol
messaging	O
network	O
is	O
a	O
component	O
of	O
the	O
global	O
payments	O
system	O
.	O
</s>
<s>
SWIFT	B-Protocol
acts	O
as	O
a	O
carrier	O
of	O
the	O
"	O
messages	O
containing	O
the	O
payment	O
instructions	O
between	O
financial	O
institutions	O
involved	O
in	O
a	O
transaction	O
"	O
.	O
</s>
<s>
As	O
of	O
2018	O
,	O
around	O
half	O
of	O
all	O
high-value	O
cross-border	O
payments	O
worldwide	O
used	O
the	O
SWIFT	B-Protocol
network	O
,	O
and	O
in	O
2015	O
,	O
SWIFT	B-Protocol
linked	O
more	O
than	O
11,000	O
financial	O
institutions	O
in	O
over	O
200	O
countries	O
and	O
territories	O
,	O
who	O
were	O
exchanging	O
an	O
average	O
of	O
over	O
32million	O
messages	O
per	O
day	O
(	O
compared	O
to	O
an	O
average	O
of	O
2.4million	O
daily	O
messages	O
in	O
1995	O
)	O
.	O
</s>
<s>
Though	O
widely	O
utilized	O
,	O
SWIFT	B-Protocol
has	O
been	O
criticized	O
for	O
its	O
inefficiency	O
.	O
</s>
<s>
SWIFT	B-Protocol
has	O
since	O
introduced	O
an	O
improved	O
service	O
called	O
"	O
Global	O
Payments	O
Innovation	O
"	O
(	O
GPI	O
)	O
,	O
claiming	O
it	O
was	O
adopted	O
by	O
165	O
banks	O
and	O
was	O
completing	O
half	O
its	O
payments	O
within	O
30	O
minutes	O
.	O
</s>
<s>
Their	O
so-called	O
improved	O
service	O
(	O
GPI-Global	O
Payments	O
Innovation	O
)	O
has	O
a	O
product	O
called	O
Swift	B-Protocol
Go	O
.	O
</s>
<s>
According	O
to	O
SWIFT	B-Protocol
itself	O
,	O
it	O
was	O
launched	O
to	O
fulfill	O
those	O
complaints	O
about	O
the	O
process	O
of	O
sending	O
and	O
receiving	O
remittances	O
.	O
</s>
<s>
The	O
fastest	O
transaction	O
ever	O
recorded	O
in	O
Swift	B-Protocol
Go	O
was	O
in	O
21	O
seconds	O
.	O
</s>
<s>
The	O
main	O
reason	O
SWIFT	B-Protocol
took	O
considered	O
creating	O
Swift	B-Protocol
Go	O
was	O
the	O
low-value	O
payments	O
market	O
which	O
is	O
growing	O
fast	O
.	O
</s>
<s>
Middle	O
Asia	O
feels	O
the	O
lack	O
of	O
Swift	B-Protocol
Go	O
the	O
most	O
.	O
</s>
<s>
For	O
instance	O
,	O
Alisherov	O
Eraj	O
,	O
Alif	O
Bank	O
Treasury	O
Department	O
SWIFT	B-Protocol
Transfers	O
&	O
Banking	O
Relationship	O
Expert	O
in	O
the	O
Republic	O
of	O
Tajikistan	O
,	O
describes	O
that	O
the	O
leading	O
cause	O
for	O
the	O
late	O
Swift	B-Protocol
Go	O
adoption	O
in	O
Tajikistan	O
was	O
the	O
row	O
banking	O
system	O
itself	O
.	O
</s>
<s>
To	O
connect	O
to	O
Swift	B-Protocol
Go	O
,	O
he	O
adds	O
,	O
banking	O
system	O
interfaces	O
should	O
upgrade	O
and	O
integrate	O
their	O
soft	O
to	O
be	O
fully	O
compatible	O
.	O
</s>
<s>
As	O
a	O
cooperative	O
society	O
under	O
Belgian	O
law	O
,	O
SWIFT	B-Protocol
is	O
owned	O
by	O
its	O
member	O
financial	O
institutions	O
.	O
</s>
<s>
The	O
chairman	O
of	O
SWIFT	B-Protocol
is	O
Graeme	O
Munro	O
of	O
United	O
Kingdom	O
,	O
and	O
its	O
CEO	O
is	O
Javier	O
Pérez-Tasso	O
of	O
Spain	O
.	O
</s>
<s>
SWIFT	B-Protocol
hosts	O
an	O
annual	O
conference	O
,	O
called	O
Sibos	O
,	O
specifically	O
aimed	O
at	O
the	O
financial	O
services	O
industry	O
.	O
</s>
<s>
SWIFT	B-Protocol
was	O
founded	O
in	O
Brussels	O
on	O
3	O
May	O
1973	O
under	O
the	O
leadership	O
of	O
its	O
inaugural	O
Swedish	O
CEO	O
,	O
Carl	O
Reuterskiöld	O
(	O
1973	O
–	O
1989	O
)	O
,	O
a	O
former	O
employee	O
at	O
Wallenberg-owned	O
Skandinaviska	O
Enskilda	O
Banken	O
,	O
and	O
was	O
supported	O
by	O
239	O
banks	O
in	O
15	O
countries	O
.	O
</s>
<s>
Before	O
its	O
establishment	O
,	O
international	O
financial	O
transactions	O
were	O
communicated	O
over	O
Telex	B-Application
,	O
a	O
public	O
system	O
involving	O
manual	O
writing	O
and	O
reading	O
of	O
messages	O
.	O
</s>
<s>
SWIFT	B-Protocol
started	O
to	O
establish	O
common	O
standards	O
for	O
financial	O
transactions	O
and	O
a	O
shared	O
data	O
processing	O
system	O
and	O
worldwide	O
communications	O
network	O
designed	O
by	O
Logica	O
and	O
developed	O
by	O
the	O
Burroughs	O
Corporation	O
.	O
</s>
<s>
SWIFT	B-Protocol
's	O
first	O
international	O
(	O
non-European	O
)	O
operations	O
centre	O
was	O
inaugurated	O
by	O
Governor	O
John	O
N	O
.	O
Dalton	O
of	O
Virginia	O
in	O
1979	O
.	O
</s>
<s>
SWIFT	B-Protocol
has	O
become	O
the	O
industry	O
standard	O
for	O
syntax	B-Application
in	O
financial	O
messages	O
.	O
</s>
<s>
Messages	O
formatted	O
to	O
SWIFT	B-Protocol
standards	O
can	O
be	O
read	O
and	O
processed	O
by	O
many	O
well-known	O
financial	O
processing	O
systems	O
,	O
whether	O
or	O
not	O
the	O
message	O
travelled	O
over	O
the	O
SWIFT	B-Protocol
network	O
.	O
</s>
<s>
SWIFT	B-Protocol
cooperates	O
with	O
international	O
organizations	O
for	O
defining	O
standards	O
for	O
message	O
format	O
and	O
content	O
.	O
</s>
<s>
SWIFT	B-Protocol
is	O
also	O
Registration	O
authority	O
(	O
RA	O
)	O
for	O
the	O
following	O
ISO	O
standards	O
:	O
</s>
<s>
In	O
RFC	O
3615	O
urn:swift	O
:	O
was	O
defined	O
as	O
Uniform	B-Protocol
Resource	I-Protocol
Names	I-Protocol
(	O
URNs	B-Protocol
)	O
for	O
SWIFT	B-Protocol
FIN	O
.	O
</s>
<s>
The	O
SWIFT	B-Protocol
secure	O
messaging	O
network	O
is	O
run	O
from	O
three	O
data	B-Operating_System
centres	I-Operating_System
,	O
located	O
in	O
the	O
United	O
States	O
,	O
the	O
Netherlands	O
,	O
and	O
Switzerland	B-Protocol
.	O
</s>
<s>
These	O
centres	O
share	O
information	O
in	O
near	B-General_Concept
real-time	I-General_Concept
.	O
</s>
<s>
In	O
case	O
of	O
a	O
failure	O
in	O
one	O
of	O
the	O
data	B-Operating_System
centres	I-Operating_System
,	O
another	O
is	O
able	O
to	O
handle	O
the	O
traffic	O
of	O
the	O
complete	O
network	O
.	O
</s>
<s>
SWIFT	B-Protocol
uses	O
submarine	O
communications	O
cables	O
to	O
transmit	O
its	O
data	O
.	O
</s>
<s>
Shortly	O
after	O
opening	O
its	O
third	O
data	B-Operating_System
centre	I-Operating_System
in	O
Switzerland	B-Protocol
in	O
2009	O
,	O
SWIFT	B-Protocol
introduced	O
new	O
distributed	O
architecture	O
with	O
two	O
messaging	O
zones	O
,	O
European	O
and	O
Trans-Atlantic	O
,	O
so	O
data	O
from	O
European	O
SWIFT	B-Protocol
members	O
no	O
longer	O
mirrored	O
the	O
U.S.	O
data	B-Operating_System
centre	I-Operating_System
.	O
</s>
<s>
+	O
Data	B-Operating_System
centres	I-Operating_System
SN	O
SWIFT	B-Protocol
data	B-Operating_System
centres	I-Operating_System
Type	O
1	O
Zoeterwoude	O
,	O
Netherlands	O
OPC	O
(	O
Operating	O
Centre	O
)	O
2	O
Culpeper	O
,	O
Virginia	O
,	O
United	O
States	O
OPC	O
(	O
Operating	O
Centre	O
)	O
3	O
Diessenhofen	O
,	O
SwitzerlandMultiple	O
sources	O
:	O
</s>
<s>
SWIFT	B-Protocol
moved	O
to	O
its	O
current	O
IP	O
network	O
infrastructure	O
,	O
known	O
as	O
SWIFTNet	O
,	O
from	O
2001	O
to	O
2005	O
,	O
providing	O
a	O
total	O
replacement	O
of	O
the	O
previous	O
X.25	B-Protocol
infrastructure	O
.	O
</s>
<s>
The	O
adopted	O
technology	O
chosen	O
to	O
develop	O
the	O
protocols	O
was	O
XML	B-Protocol
,	O
where	O
it	O
now	O
provides	O
a	O
wrapper	O
around	O
all	O
messages	O
legacy	O
or	O
contemporary	O
.	O
</s>
<s>
SWIFT	B-Protocol
provides	O
a	O
centralized	O
store-and-forward	O
mechanism	O
,	O
with	O
some	O
transaction	O
management	O
.	O
</s>
<s>
For	O
bank	O
A	O
to	O
send	O
a	O
message	O
to	O
bank	O
B	O
with	O
a	O
copy	O
or	O
authorization	O
involving	O
institution	O
C	O
,	O
it	O
formats	O
the	O
message	O
according	O
to	O
standards	O
and	O
securely	O
sends	O
it	O
to	O
SWIFT	B-Protocol
.	O
</s>
<s>
SWIFT	B-Protocol
guarantees	O
its	O
secure	O
and	O
reliable	O
delivery	O
to	O
B	O
after	O
the	O
appropriate	O
action	O
by	O
C	O
.	O
SWIFT	B-Protocol
guarantees	O
are	O
based	O
primarily	O
on	O
high	O
redundancy	O
of	O
hardware	O
,	O
software	O
,	O
and	O
people	O
.	O
</s>
<s>
During	O
2007	O
and	O
2008	O
,	O
the	O
entire	O
SWIFT	B-Protocol
network	O
migrated	O
its	O
infrastructure	O
to	O
a	O
new	O
protocol	O
called	O
SWIFTNet	O
Phase	O
2	O
.	O
</s>
<s>
The	O
main	O
difference	O
between	O
Phase	O
2	O
and	O
the	O
former	O
arrangement	O
is	O
that	O
Phase	O
2	O
requires	O
banks	O
connecting	O
to	O
the	O
network	O
to	O
use	O
a	O
Relationship	O
Management	O
Application	O
(	O
RMA	O
)	O
instead	O
of	O
the	O
former	O
bilateral	B-Protocol
key	I-Protocol
exchange	I-Protocol
(	O
BKE	O
)	O
system	O
.	O
</s>
<s>
According	O
to	O
SWIFT	B-Protocol
's	O
public	O
information	O
database	O
on	O
the	O
subject	O
,	O
RMA	O
software	O
should	O
eventually	O
prove	O
more	O
secure	O
and	O
easier	O
to	O
keep	O
up-to-date	O
;	O
however	O
,	O
converting	O
to	O
the	O
RMA	O
system	O
meant	O
that	O
thousands	O
of	O
banks	O
around	O
the	O
world	O
had	O
to	O
update	O
their	O
international	O
payments	O
systems	O
to	O
comply	O
with	O
the	O
new	O
standards	O
.	O
</s>
<s>
SWIFT	B-Protocol
means	O
several	O
things	O
in	O
the	O
financial	O
world	O
:	O
</s>
<s>
a	O
secure	B-General_Concept
network	I-General_Concept
for	O
transmitting	O
messages	O
between	O
financial	O
institutions	O
;	O
</s>
<s>
a	O
set	O
of	O
connection	O
software	O
and	O
services	O
allowing	O
financial	O
institutions	O
to	O
transmit	O
messages	O
over	O
SWIFT	B-Protocol
network	O
.	O
</s>
<s>
Under	O
3	O
above	O
,	O
SWIFT	B-Protocol
provides	O
turn-key	O
solutions	O
for	O
members	O
,	O
consisting	O
of	O
linkage	B-Protocol
clients	I-Protocol
to	O
facilitate	O
connectivity	O
to	O
the	O
SWIFT	B-Protocol
network	O
and	O
CBTs	B-Application
or	I-Application
"	I-Application
computer	I-Application
based	I-Application
terminals	I-Application
"	I-Application
which	O
members	O
use	O
to	O
manage	O
the	O
delivery	O
and	O
receipt	O
of	O
their	O
messages	O
.	O
</s>
<s>
SWIFTNet	O
Link	O
(	O
SNL	O
)	O
software	O
which	O
is	O
installed	O
on	O
the	O
SWIFT	B-Protocol
customer	O
's	O
site	O
and	O
opens	O
a	O
connection	O
to	O
SWIFTNet	O
.	O
</s>
<s>
Alliance	O
WebStation	O
(	O
SAB	O
)	O
desktop	O
interface	O
for	O
SWIFT	B-Protocol
Alliance	O
Gateway	O
with	O
several	O
usage	O
options	O
:	O
</s>
<s>
Alliance	O
Access	O
(	O
SAA	O
)	O
and	O
Alliance	O
Messaging	O
Hub	O
(	O
AMH	O
)	O
are	O
the	O
main	O
messaging	O
software	O
applications	O
by	O
SWIFT	B-Protocol
,	O
which	O
allow	O
message	O
creation	O
for	O
FIN	O
messages	O
,	O
routing	O
and	O
monitoring	O
for	O
FIN	O
and	O
MX	O
messages	O
.	O
</s>
<s>
The	O
main	O
interfaces	O
are	O
FTA	O
(	O
files	O
transfer	O
automated	O
,	O
not	O
FTP	O
)	O
and	O
MQSA	O
,	O
a	O
WebSphere	B-Application
MQ	I-Application
interface	O
.	O
</s>
<s>
Alliance	O
Integrator	O
built	O
on	O
Oracle	B-Application
's	O
Java	B-Language
Caps	I-Language
which	O
enables	O
customer	O
's	O
back	O
office	O
applications	O
to	O
connect	O
to	O
Alliance	O
Access	O
or	O
Alliance	O
Entry	O
.	O
</s>
<s>
Alliance	O
Lite2	O
is	O
a	O
secure	O
and	O
reliable	O
,	O
cloud-based	O
way	O
to	O
connect	O
to	O
the	O
SWIFT	B-Protocol
network	O
which	O
is	O
a	O
light	O
version	O
of	O
Alliance	O
Access	O
specifically	O
targeting	O
customers	O
with	O
low	O
volume	O
of	O
traffic	O
.	O
</s>
<s>
There	O
are	O
four	O
key	O
areas	O
that	O
SWIFT	B-Protocol
services	O
fall	O
under	O
in	O
the	O
financial	O
marketplace	O
:	O
securities	O
,	O
treasury	O
&	O
derivatives	O
,	O
trade	O
services	O
.	O
</s>
<s>
Swift	B-Protocol
Ref	O
,	O
the	O
global	O
payment	O
reference	O
data	O
utility	O
,	O
is	O
SWIFT	B-Protocol
's	O
unique	O
reference	O
data	O
service	O
.	O
</s>
<s>
Swift	B-Protocol
Ref	O
sources	O
data	O
direct	O
from	O
data	O
originators	O
,	O
including	O
central	O
banks	O
,	O
code	O
issuers	O
and	O
banks	O
making	O
it	O
easy	O
for	O
issuers	O
and	O
originators	O
to	O
maintain	O
data	O
regularly	O
and	O
thoroughly	O
.	O
</s>
<s>
SWIFT	B-Protocol
offers	O
a	O
secure	O
person-to-person	O
messaging	O
service	O
,	O
SWIFTNet	O
Mail	O
,	O
which	O
went	O
live	O
on	O
16	O
May	O
2007	O
.	O
</s>
<s>
SWIFT	B-Protocol
clients	O
can	O
configure	O
their	O
existing	O
email	O
infrastructure	O
to	O
pass	O
email	O
messages	O
through	O
the	O
highly	O
secure	O
and	O
reliable	O
SWIFTNet	O
network	O
instead	O
of	O
the	O
open	O
Internet	O
.	O
</s>
<s>
SWIFTNet	O
Mail	O
is	O
intended	O
for	O
the	O
secure	O
transfer	O
of	O
sensitive	O
business	O
documents	O
,	O
such	O
as	O
invoices	O
,	O
contracts	O
and	O
signatories	O
,	O
and	O
is	O
designed	O
to	O
replace	O
existing	O
telex	B-Application
and	O
courier	O
services	O
,	O
as	O
well	O
as	O
the	O
transmission	O
of	O
security-sensitive	O
data	O
over	O
the	O
open	O
Internet	O
.	O
</s>
<s>
Seven	O
financial	O
institutions	O
,	O
including	O
HSBC	O
,	O
FirstRand	O
Bank	O
,	O
Clearstream	O
,	O
DnB	O
NOR	O
,	O
Nedbank	O
,	O
and	O
Standard	O
Bank	O
of	O
South	O
Africa	O
,	O
as	O
well	O
as	O
SWIFT	B-Protocol
piloted	O
the	O
service	O
.	O
</s>
<s>
A	O
series	O
of	O
articles	O
published	O
on	O
23	O
June	O
2006	O
in	O
The	O
New	O
York	O
Times	O
,	O
The	O
Wall	O
Street	O
Journal	O
,	O
and	O
the	O
Los	O
Angeles	O
Times	O
revealed	O
a	O
program	O
,	O
named	O
the	O
Terrorist	O
Finance	O
Tracking	O
Program	O
,	O
which	O
the	O
US	O
Treasury	O
Department	O
,	O
Central	O
Intelligence	O
Agency	O
(	O
CIA	O
)	O
,	O
and	O
other	O
United	O
States	O
governmental	O
agencies	O
initiated	O
after	O
the	O
11	O
September	O
attacks	O
to	O
gain	O
access	O
to	O
the	O
SWIFT	B-Protocol
transaction	O
database	O
.	O
</s>
<s>
After	O
the	O
publication	O
of	O
these	O
articles	O
,	O
SWIFT	B-Protocol
quickly	O
came	O
under	O
pressure	O
for	O
compromising	O
the	O
data	O
privacy	O
of	O
its	O
customers	O
by	O
allowing	O
governments	O
to	O
gain	O
access	O
to	O
sensitive	O
personal	O
information	O
.	O
</s>
<s>
In	O
September	O
2006	O
,	O
the	O
Belgian	O
government	O
declared	O
that	O
these	O
SWIFT	B-Protocol
dealings	O
with	O
American	O
governmental	O
authorities	O
were	O
a	O
breach	O
of	O
Belgian	O
and	O
European	O
privacy	O
laws	O
.	O
</s>
<s>
In	O
response	O
,	O
and	O
to	O
satisfy	O
members	O
 '	O
concerns	O
about	O
privacy	O
,	O
SWIFT	B-Protocol
began	O
a	O
process	O
of	O
improving	O
its	O
architecture	O
by	O
implementing	O
a	O
distributed	O
architecture	O
with	O
a	O
two-zone	O
model	O
for	O
storing	O
messages	O
(	O
see	O
Operations	O
centres	O
)	O
.	O
</s>
<s>
Concurrently	O
,	O
the	O
European	O
Union	O
negotiated	O
an	O
agreement	O
with	O
the	O
United	O
States	O
government	O
to	O
permit	O
the	O
transfer	O
of	O
intra-EU	O
SWIFT	B-Protocol
transaction	O
information	O
to	O
the	O
United	O
States	O
under	O
certain	O
circumstances	O
.	O
</s>
<s>
Der	O
Spiegel	O
reported	O
in	O
September	O
2013	O
that	O
the	O
National	O
Security	O
Agency	O
(	O
NSA	O
)	O
widely	O
monitors	O
banking	O
transactions	O
via	O
SWIFT	B-Protocol
,	O
as	O
well	O
as	O
credit	O
card	O
transactions	O
.	O
</s>
<s>
The	O
NSA	O
intercepted	O
and	O
retained	O
data	O
from	O
the	O
SWIFT	B-Protocol
network	O
used	O
by	O
thousands	O
of	O
banks	O
to	O
securely	O
send	O
transaction	O
information	O
.	O
</s>
<s>
SWIFT	B-Protocol
was	O
named	O
as	O
a	O
"	O
target	O
"	O
,	O
according	O
to	O
documents	O
leaked	O
by	O
Edward	O
Snowden	O
.	O
</s>
<s>
The	O
documents	O
revealed	O
that	O
the	O
NSA	O
spied	O
on	O
SWIFT	B-Protocol
using	O
a	O
variety	O
of	O
methods	O
,	O
including	O
reading	O
"	O
SWIFT	B-Protocol
printer	O
traffic	O
from	O
numerous	O
banks	O
"	O
.	O
</s>
<s>
In	O
April	O
2017	O
,	O
a	O
group	O
known	O
as	O
the	O
Shadow	O
Brokers	O
released	O
files	O
allegedly	O
from	O
the	O
NSA	O
which	O
indicate	O
that	O
the	O
agency	O
monitored	O
financial	O
transactions	O
made	O
through	O
SWIFT	B-Protocol
.	O
</s>
<s>
After	O
the	O
Lithuanian	O
prime	O
minister	O
proposed	O
disconnecting	O
Belarus	O
from	O
SWIFT	B-Protocol
,	O
the	O
European	O
Union	O
,	O
which	O
does	O
not	O
recognise	O
Lukashenko	O
as	O
the	O
legitimate	O
President	O
of	O
Belarus	O
,	O
started	O
to	O
plan	O
an	O
extension	O
of	O
the	O
sanctions	O
already	O
issued	O
against	O
Russian	O
entities	O
and	O
top	O
officials	O
to	O
its	O
ally	O
.	O
</s>
<s>
In	O
January	O
2012	O
,	O
the	O
advocacy	O
group	O
United	O
Against	O
Nuclear	O
Iran	O
(	O
UANI	O
)	O
implemented	O
a	O
campaign	O
calling	O
on	O
SWIFT	B-Protocol
to	O
end	O
all	O
relations	O
with	O
Iran	O
's	O
banking	O
system	O
,	O
including	O
the	O
Central	O
Bank	O
of	O
Iran	O
.	O
</s>
<s>
UANI	O
asserted	O
that	O
Iran	O
's	O
membership	O
in	O
SWIFT	B-Protocol
violated	O
US	O
and	O
EU	O
financial	O
sanctions	O
against	O
Iran	O
as	O
well	O
as	O
SWIFT	B-Protocol
's	O
own	O
corporate	O
rules	O
.	O
</s>
<s>
Consequently	O
,	O
in	O
February	O
2012	O
,	O
the	O
U.S.	O
Senate	O
Banking	O
Committee	O
unanimously	O
approved	O
sanctions	O
against	O
SWIFT	B-Protocol
aimed	O
at	O
pressuring	O
it	O
to	O
terminate	O
its	O
ties	O
with	O
blacklisted	O
Iranian	O
banks	O
.	O
</s>
<s>
Expelling	O
Iranian	O
banks	O
from	O
SWIFT	B-Protocol
would	O
potentially	O
deny	O
Iran	O
access	O
to	O
billions	O
of	O
dollars	O
in	O
revenue	O
using	O
SWIFT	B-Protocol
but	O
not	O
from	O
using	O
IVTS	O
.	O
</s>
<s>
Initially	O
SWIFT	B-Protocol
denied	O
that	O
it	O
was	O
acting	O
illegally	O
,	O
but	O
later	O
said	O
that	O
"	O
it	O
is	O
working	O
with	O
U.S.	O
and	O
European	O
governments	O
to	O
address	O
their	O
concerns	O
that	O
its	O
financial	O
services	O
are	O
being	O
used	O
by	O
Iran	O
to	O
avoid	O
sanctions	O
and	O
conduct	O
illicit	O
business	O
"	O
.	O
</s>
<s>
On	O
17	O
March	O
2012	O
,	O
following	O
agreement	O
two	O
days	O
earlier	O
between	O
all	O
27	O
member	O
states	O
of	O
the	O
Council	O
of	O
the	O
European	O
Union	O
and	O
the	O
Council	O
's	O
subsequent	O
ruling	O
,	O
SWIFT	B-Protocol
disconnected	O
all	O
Iranian	O
banks	O
that	O
had	O
been	O
identified	O
as	O
institutions	O
in	O
breach	O
of	O
current	O
EU	O
sanctions	O
from	O
its	O
international	O
network	O
and	O
warned	O
that	O
even	O
more	O
Iranian	O
financial	O
institutions	O
could	O
be	O
disconnected	O
from	O
the	O
network	O
.	O
</s>
<s>
Similarly	O
,	O
in	O
August	O
2014	O
the	O
UK	O
planned	O
to	O
press	O
the	O
EU	O
to	O
block	O
Russian	O
use	O
of	O
SWIFT	B-Protocol
as	O
a	O
sanction	O
due	O
to	O
Russian	O
military	O
intervention	O
in	O
Ukraine	O
.	O
</s>
<s>
However	O
,	O
SWIFT	B-Protocol
refused	O
to	O
do	O
so	O
.	O
</s>
<s>
SPFS	O
,	O
a	O
Russia-based	O
SWIFT	B-Protocol
equivalent	O
,	O
was	O
created	O
by	O
the	O
Central	O
Bank	O
of	O
Russia	O
as	O
a	O
backup	O
measure	O
.	O
</s>
<s>
During	O
the	O
prelude	O
to	O
the	O
2022	O
Russian	O
invasion	O
of	O
Ukraine	O
,	O
the	O
United	O
States	O
developed	O
preliminary	O
possible	O
sanctions	O
against	O
Russia	O
,	O
but	O
excluded	O
banning	O
Russia	O
from	O
SWIFT	B-Protocol
.	O
</s>
<s>
Following	O
the	O
2022	O
Russian	O
invasion	O
of	O
Ukraine	O
,	O
the	O
foreign	O
ministers	O
of	O
Lithuania	O
,	O
Latvia	O
,	O
and	O
Estonia	O
called	O
for	O
Russia	O
to	O
be	O
cut	O
off	O
from	O
SWIFT	B-Protocol
.	O
</s>
<s>
The	O
European	O
Union	O
,	O
United	O
Kingdom	O
,	O
Canada	O
,	O
and	O
the	O
United	O
States	O
finally	O
agreed	O
to	O
remove	O
select	O
Russian	O
banks	O
from	O
the	O
SWIFT	B-Protocol
messaging	O
system	O
in	O
response	O
to	O
the	O
2022	O
Russian	O
invasion	O
of	O
Ukraine	O
;	O
the	O
governments	O
of	O
France	O
,	O
Germany	O
,	O
Italy	O
and	O
Japan	O
individually	O
released	O
statements	O
alongside	O
the	O
EU	O
.	O
</s>
<s>
On	O
20	O
March	O
2023	O
,	O
the	O
Russian	O
Federation	O
banned	O
the	O
use	O
of	O
SWIFT	B-Protocol
.	O
</s>
<s>
In	O
2014	O
,	O
SWIFT	B-Protocol
rejected	O
calls	O
from	O
pro-Palestinian	O
activists	O
to	O
revoke	O
Israeli	O
banks	O
 '	O
access	O
to	O
its	O
network	O
.	O
</s>
<s>
Alternatives	O
to	O
the	O
SWIFT	B-Protocol
system	O
include	O
:	O
</s>
<s>
In	O
2016	O
an	O
$81million	O
theft	O
from	O
the	O
Bangladesh	O
central	O
bank	O
via	O
its	O
account	O
at	O
the	O
New	O
York	O
Federal	O
Reserve	O
Bank	O
was	O
traced	O
to	O
hacker	O
penetration	O
of	O
SWIFT	B-Protocol
's	O
Alliance	O
Access	O
software	O
,	O
according	O
to	O
a	O
New	O
York	O
Times	O
report	O
.	O
</s>
<s>
Both	O
attacks	O
involved	O
malware	O
written	O
to	O
both	O
issue	O
unauthorized	O
SWIFT	B-Protocol
messages	O
and	O
to	O
conceal	O
that	O
the	O
messages	O
had	O
been	O
sent	O
.	O
</s>
<s>
After	O
the	O
malware	O
sent	O
the	O
SWIFT	B-Protocol
messages	O
that	O
stole	O
the	O
funds	O
,	O
it	O
deleted	O
the	O
database	O
record	O
of	O
the	O
transfers	O
then	O
took	O
further	O
steps	O
to	O
prevent	O
confirmation	O
messages	O
from	O
revealing	O
the	O
theft	O
.	O
</s>
<s>
In	O
this	O
case	O
,	O
the	O
thieves	O
sent	O
SWIFT	B-Protocol
messages	O
that	O
resembled	O
recently	O
cancelled	O
transfer	O
requests	O
from	O
BDA	O
,	O
with	O
slightly	O
altered	O
amounts	O
;	O
the	O
reports	O
do	O
not	O
detail	O
how	O
the	O
thieves	O
gained	O
access	O
to	O
send	O
the	O
SWIFT	B-Protocol
messages	O
.	O
</s>
<s>
BDA	O
asserts	O
that	O
Wells	O
Fargo	O
should	O
have	O
detected	O
the	O
suspicious	O
SWIFT	B-Protocol
messages	O
,	O
which	O
were	O
placed	O
outside	O
of	O
normal	O
BDA	O
working	O
hours	O
and	O
were	O
of	O
an	O
unusual	O
size	O
.	O
</s>
<s>
Wells	O
Fargo	O
claims	O
that	O
BDA	O
is	O
responsible	O
for	O
the	O
loss	O
,	O
as	O
the	O
thieves	O
gained	O
access	O
to	O
the	O
legitimate	O
SWIFT	B-Protocol
credentials	O
of	O
a	O
BDA	O
employee	O
and	O
sent	O
fully	O
authenticated	O
SWIFT	B-Protocol
messages	O
.	O
</s>
<s>
In	O
the	O
first	O
half	O
of	O
2016	O
,	O
an	O
anonymous	O
Ukrainian	O
bank	O
and	O
others	O
—	O
even	O
"	O
dozens	O
"	O
that	O
are	O
not	O
being	O
made	O
public	O
—	O
were	O
variously	O
reported	O
to	O
have	O
been	O
"	O
compromised	O
"	O
through	O
the	O
SWIFT	B-Protocol
network	O
and	O
to	O
have	O
lost	O
money	O
.	O
</s>
<s>
In	O
March	O
2022	O
,	O
Swiss	O
newspaper	O
Neue	O
Zürcher	O
Zeitung	O
reported	O
about	O
the	O
increased	O
security	O
precautions	O
by	O
the	O
State	O
Police	O
of	O
Thurgau	O
at	O
the	O
SWIFT	B-Protocol
data	B-Operating_System
centre	I-Operating_System
in	O
Diessenhofen	O
.	O
</s>
