What is SWIFT?

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What is SWIFT, and what does a SWIFT ban actually mean? We learn about the communications system and how it facilitates the movement of large amounts of money all around the world. Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSee omnystudio.com/listener ...  Show more

The Society for Worldwide Interbank Financial Telecommunication - SWIFT - solved some big problems with international financial transfers, making them more secure and reliable than ever before. However, as Tim Harford explains, the global political climate means it might now be f ...  Show more

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The US and EU are denying a handful of Russian banks access to SWIFT, a key tool in the global financial system. This episode was produced by Miles Bryan, edited by Matt Collette, engineered by Efim Shapiro, fact-checked by Laura Bullard, and hosted by Noel King. Transcript at vo ...  Show more