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SWIFT: New payment controls service bolsters cyber-crime controls

GRC Announcements | April 21, 2017

SWIFT, a global member-owned cooperative and a provider of secure financial messaging services, announced a new real-time payment controls service to complement and strengthen its customers’ existing fraud controls.

The new fraud and cyber-crime prevention service will enable SWIFT customers to screen their payment messages according to their own chosen parameters, enabling them to immediately detect any unusual message flows before transmission.

Customers will be able to integrate the service directly into their SWIFT messaging flows, thereby significantly enhancing their ability to control their messaging activity, enabling the timely detection of unusual or uncharacteristic payment patterns, and improving their ability to prevent fraudulent transfer requests. They will also be able to define and control...

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