2022 · Q99
The SWIFT (The Society for Worldwide Interbank Financial Telecommunication) frequently mentioned in news, is essentially a
General KnowledgeIndian Economy
- AGlobal financial intelligence agency
- BGlobal terror finance detection system
- CGlobal money transfer system
- DGlobal stock-market information sharing system
Explanation
SWIFT is a Belgium-based cooperative providing secure financial messaging between banks worldwide, underpinning international money transfers. It is not an intelligence agency, a terror-finance detector or a stock-market information system. Hence it is essentially a global money transfer (messaging) system.