The BIS is just a counterparty to facilitate payments between nations. It doesn't exert influence in international affairs (except really via the BCBS [1] which sets the Basel capital accords defining how much capital banks have to hold and therefore does have a lot of influence behind the scenes on how banks operate anyway). When the US says it's going to give $100m in aid to some country or one country pays back a debt to another country, there needs to be someone to process the payment, and that someone is the BIS.
Source: friend used to work in the BIS and I've also been involved in banking off and on for a long time, including dealing with various international banking regulators.
Some fun BIS facts:
1) They process payments via regular SWIFT[2] messages. So the $100m in aid comes as a message just the same as if you transfer $5 from one bank account to another. It has an IBAN number with a regular bank account, so if you changed that to your own account details and the message was processed suddenly $100m would appear in your checking account instead of going fund an aid programme for some government in Africa or whatnot.
2) The number of payments they process is very low (>100 per day max and usually in the low tens of messages) so every payment message is checked by hand by several independent people as well as having automated checks. Partly to avoid the risk of funds getting sent to the wrong places etc.
3) My friend worked there in the 90s and said that even back then they had extremely strong security with multifactor biometrics on every entry to the premises. You got in via an entrance where you had to step into a cylander which would only unlock after it had taken multiple photos including an iris scan
Source: friend used to work in the BIS and I've also been involved in banking off and on for a long time, including dealing with various international banking regulators.
Some fun BIS facts:
1) They process payments via regular SWIFT[2] messages. So the $100m in aid comes as a message just the same as if you transfer $5 from one bank account to another. It has an IBAN number with a regular bank account, so if you changed that to your own account details and the message was processed suddenly $100m would appear in your checking account instead of going fund an aid programme for some government in Africa or whatnot.
2) The number of payments they process is very low (>100 per day max and usually in the low tens of messages) so every payment message is checked by hand by several independent people as well as having automated checks. Partly to avoid the risk of funds getting sent to the wrong places etc.
3) My friend worked there in the 90s and said that even back then they had extremely strong security with multifactor biometrics on every entry to the premises. You got in via an entrance where you had to step into a cylander which would only unlock after it had taken multiple photos including an iris scan
[1] https://www.bis.org/bcbs/
[2] https://www.swift.com/about-us/discover-swift/messaging-and-...