The SWIFT system could be used in a sanction against Russia with the country being removed from the financial system. What is SWIFT and what effect would this have?

The IFSC codes for erstwhile Syndicate Bank customers will be changed from July 1 this year. The bank was merged with Canara Bank in April 2020 as part of a slew of bank mergers undertaken by the ...

SWIFT has admitted that cyberattacks leveraging the banking messaging system and poor local security have grown worldwide and asked for vigilance against threats which are "here to stay." On ...

The European Union was set Tuesday to instruct the Swift financial network to delist seven banks, including Russia’s VTB Bank, Bank Rossiya and Bank Otkritie, according to several diplomats ...

The SWIFT messaging system has been called the central nervous system of the international banking world, but it wasn’t included in the initial round of sanctions because several European ...

Even without the war in Ukraine, correspondent banking using the SWIFT messaging system was going downhill. By cutting off some Russian lenders’ access to the communication channel, politicians ...

Global bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system ...

Russia wants to create an alternative to SWIFT, the Society for Worldwide Interbank Financial Telecommunication, which connects some 10,000 banks together through a $6 billion daily financial ...