Statement on recent allegations
Brussels 9 May 2016 – Swift rejects the false, inaccurate and misleading allegations made by Bangladesh Bank and Bangladesh Police's Criminal Investigation Department (CID) officials to Reuters. The accusations have no basis in fact.
Swift was not responsible for any of the issues cited by the officials, or party to the related decisions. As a Swift user like any other, Bangladesh Bank is responsible for the security of its own systems interfacing with the Swift network and their related environment – starting with basic password protection practices – in much the same way as they are responsible for their other internal security considerations.
Swift looks forward to the meeting with Bangladesh Bank and New York Federal Reserve Bank officials in Basel on 10th May, when the bank’s security issues and these baseless allegations will be discussed. Swift will not comment further ahead of that meeting.
Swift is a global member-owned cooperative and the world’s leading provider of secure financial messaging services.
We provide our community with a platform for messaging and standards for communicating, and we offer products and services to facilitate access and integration, identification, analysis and financial crime compliance.
Our messaging platform, products and services connect more than 11,000 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories, enabling them to communicate securely and exchange standardised financial messages in a reliable way. As their trusted provider, we facilitate global and local financial flows, support trade and commerce all around the world; we relentlessly pursue operational excellence and continually seek ways to lower costs, reduce risks and eliminate operational inefficiencies.
Headquartered in Belgium, Swift’s international governance and oversight reinforces the neutral, global character of its cooperative structure. Swift’s global office network ensures an active presence in all the major financial centres.
Brunswick Group LLP
Tel: +44 (0)20 7404 5959