Information on Payment Transactions
In the case of money transfers abroad and separately commissioned urgent money transfers, the data contained in the transfer is transmitted to the credit institution of the beneficiary via the Society for Worldwide Interbank Financial telecommunication (SWIFT), domiciled in Belgium. This is the only payment communication service operating on a worldwide scale. For reasons of system security, SWIFT temporarily stores the transactions in its computer centres in the Netherlands and the USA.
This information is provided as a result of a resolution of the data protection authorities in November 2006 in response to the seizure by US authorities of transfer data in the computer centre of SWIFT in the USA for the purposes of fighting international terrorism.
If you have questions on the above, the product managers of business unit Transaction Services will be pleased to help you.