BAFT Releases Paper on ISO 20022 Migration in Sanctions & Compliance

As the latest installment in its series of papers on the financial industry’s shift to ISO 20022 messaging standards, BAFT released “ISO 20022 Migrations: Lessons Learned in Sanctions & Compliance” on 2 July 2025.

The timing of its release is particularly apt. The paper points out that “industry uptake of ISO 20022 has been slower than expected with ~60% of the industry still to adopt (as of April 25) before the November deadline when sending financial messages via Swift.”

Focusing on the experiences of early adopters during the initial wave of ISO 20022 implementation, the paper addresses policies, procedures, and best practice considerations as regards sanctions and compliance matters.