SWIFT

The Society for Worldwide Interbank Financial Telecommunication, legally S.W.I.F.T. SCRL, provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment.

(source: en.wikipedia.org)

Global Banks Rush to Comply With Russian Sanctions
Global Banks Rush to Comply With Russian Sanctions
February 27, 2022  |  Banking

Senior management and compliance teams at major banks have been working vigilantly to understand the new sanctions imposed on Russia, Reuters reported Sunday (Feb. 27)....

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Russians Hoard Cash in Wake of Bank Sanctions
Russians Hoard Cash in Wake of Bank Sanctions
February 27, 2022  |  International

In Moscow and other Russian cities, people are trying to get cash, both in rubles and dollars, due to fears of a fiscal crash following...

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US Allies Escalate Financial War Against Putin, Freeze Russian Central Bank Foreign Reserves
US Allies Escalate Financial War Against Putin, Freeze Russian Central Bank Foreign Reserves
February 26, 2022  |  International

As reports of military action and casualties mount following Russia’s invasion of Ukraine, a parallel ‘financial war’ is also escalating that is aimed at isolating Moscow through a growing...

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EMEA Daily: Ukraine Revokes Licenses of Russian Banks Sberbank, VEB; European Parliament Indefinitely Delays Crypto Reg Vote
EMEA Daily: Ukraine Revokes Licenses of Russian Banks Sberbank, VEB; European Parliament Indefinitely Delays Crypto...
February 25, 2022  |  International

In today’s top Europe, Middle East and Africa (EMEA) news, Russia’s financial services were further handicapped when the National Bank of Ukraine revoked the licenses...

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Why Removing Russia From SWIFT Won’t Be Simple
Why Removing Russia From SWIFT Won’t Be Simple
February 25, 2022  |  International

President Joe Biden announced this week that the U.S. and Europe and other allies were stepping up their sanctions against Russia over its invasion of...

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Russia Remains on SWIFT Over Fears of New Payments System
Russia Remains on SWIFT Over Fears of New Payments System
February 25, 2022  |  International

The EU and the U.S. are formally signing off on sanctions against Russia in response to President Vladimir Putin’s decision to invade Ukraine, but the...

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UK PM Boris Johnson Wants Russia Booted From SWIFT
UK PM Boris Johnson Wants Russia Booted From SWIFT
February 24, 2022  |  International

U.K. Prime Minister Boris Johnson on Thursday (Feb. 24) pushed “very hard” to remove Russia from the Society for Worldwide Interbank Financial Telecommunications (SWIFT) international...

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US, Europe Levy Russia Sanctions, But All-out SWIFT Ban Not Likely Yet
US, Europe Levy Russia Sanctions, But All-out SWIFT Ban Not Likely Yet
February 22, 2022  |  International

In times of war — or of armed conflicts that are wars in all but name — payments can be weaponized (after a fashion). Or,...

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Boris Johnson, US Discuss Banning Russia from SWIFT
Boris Johnson, US Discuss Banning Russia from SWIFT
January 25, 2022  |  International

British Prime Minister Boris Johnson is considering banning Russia from the SWIFT global payments system, and is in discussions with the U.S. about the matter,...

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