Yup, if you want to make international bank transfers, you have to use Swift. If you want to use swift you have to sign a waiver saying that it’s OK for them to do whatever they want with your personal details for any random reason (OK, to fight terrorism is what it says, but that comes down to the same thing). And why? Well, mainly to allow the vierten reich USA direct snooping lines into the Swift system.
Yes, this is illegal, but it’s looking like Europe will bow to the pressure and cave in and change our private data rights for the US Nazi’s.