SWIFT System Electronic data transmission system between financial institutions that ensures the exact identification of the sender and recipient, confirms the receipt of the information, and guarantees adequate confidentiality through a key system. It is used especially for fund transfers and is organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). SWIFT is a cooperative society under Belgian legislation, owned by its own members with offices around the world. The headquarters are located in La Hulpe, near Brussels.
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