At Swift, we continuously work to enhance the safety and efficiency of our financial messaging services. In this information notice (the “Notice”), we describe how S.W.I.F.T. SC (“Swift”, “we”, “us”) processes personal data that may be contained in financial messages to detect anomalies and increase the efficiency of payment transactions. This page is also available in Japanese (日本語) and in German (Deutsch).
We process personal data to detect anomalies and increase payments efficiency
Fraud prevention is one of the most challenging aspects of the modern financial ecosystem. By helping our customers to detect anomalies in their Swift payment messages, we protect financial institutions, individuals and the community as a whole. We also strive to develop solutions that make payment transactions more predictable and reliable. For these purposes, we create pseudonymized account statistics on the basis of the financial messages that are exchanged by Swift users via our messaging services. These pseudonymised account statistics are used to provide advanced anomaly detection capabilities to the Swift customers that use the Swift Payment Control Service, and payment validation tools to those that use the Swift Pre-Validation service.
We only process your personal data for the above purposes. Under the European Union’s General Data Protection Regulation (“GDPR”), the legal ground is provided by the legitimate interest that both we, Swift users and individuals have in detecting anomalies in view of preventing and protecting payment transactions against fraud, and increasing the efficiency in the payment transactions of Swift users. The pseudonymized account statistics will be stored according to state-of-the-art security and organisational measures in Swift datacentres located in the European Union and Switzerland, for a limited duration of 13 months.
Your rights, how to contact us, and additional information about our practices
You have certain rights and choices regarding the personal data that we process about you. If you wish to opt-out from Swift’s processing of pseudonymised account statistics, please provide your account number(s), the name of the account owner(s), the name(s) (and, if available, Business Identifier Code or BIC) of the financial institution(s) servicing your account(s), and your email address to Swift via opt.out@swift.com.
Based on this information, we will first by email request your financial institution to confirm that you are indeed the (co-)owner of this account number, before further processing your opt-out request.
Please note that your rights may be limited in certain circumstances under applicable law.
For more information about your rights, or to learn more about how we share, transfer or protect your personal data, please refer to the Swift Personal Data Protection Policy.
The entity responsible for the creation of pseudonymized account statistics and performing the analytics described in this Notice is S.W.I.F.T. SC. You can contact us by sending an email to privacy.officer@swift.com or by writing to S.W.I.F.T. SC, to the attention of the Data Protection Officer, Avenue Adèle 1, 1310 La Hulpe, Belgium.
