Search: SWIFT
RBA Glossary definition for SWIFT
SWIFT – Society for Worldwide Interbank Financial Telecommunication. A co-operative organisation that operates a network for the exchange of payment and other financial messages between financial institutions.
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Box D: Cyber Risk
20 Oct 2018
FSR
– October 2018
An example was the theft of US$81 million from Bangladesh Bank by an attack on their Society for Worldwide Interbank Financial Telecommunication (SWIFT) connected systems. ... SWIFT has introduced a ‘customer security program’ that establishes
https://www.rba.gov.au/publications/fsr/2018/oct/box-d.html
The Australian Financial System
20 Oct 2016
FSR
– October 2016
Investigations to date suggest that the attacks were possible because of vulnerabilities in that bank's IT environment, rather than SWIFT's core messaging infrastructure. ... Nevertheless, SWIFT has announced a ‘customer security program’ in response,
https://www.rba.gov.au/publications/fsr/2016/oct/aus-fin-sys.html
Box C: Building Resilience to Cyber Risks
8 Apr 2022
FSR
– April 2022
Likewise, the Bank has dual roles with respect to SWIFT – a global provider of the critical messaging and connectivity services for the financial system. ... As a user of the SWIFT network and RITS operator, the Bank is compliant with SWIFT's Customer
https://www.rba.gov.au/publications/fsr/2022/apr/box-c-building-resilience-to-cyber-risks.html
The Global Financial Environment
8 Apr 2022
FSR
– April 2022
the SWIFT payment messaging system have made it very difficult for Russian financial institutions to transact with the rest of the world.
https://www.rba.gov.au/publications/fsr/2022/apr/global-financial-environment.html
5.5 Focus Topic: Operational Risk in a Digital World
6 Oct 2023
FSR
– October 2023
5.5 Focus Topic: Operational Risk in a Digital World | Financial Stability Review – October 2023
https://www.rba.gov.au/publications/fsr/2023/oct/focus-topic-operational-risk-in-a-digital-world.html
The Australian Financial System
9 Oct 2020
FSR
– October 2020
The constantly evolving nature of these risks means it is critical that financial institutions regularly update and upgrade their defences – including reviewing any short-term solutions established to accommodate the swift
https://www.rba.gov.au/publications/fsr/2020/oct/australian-financial-system.html
The Australian High-Value Payments System
10 Mar 2004
FSR
– March 2004
This system uses the global SWIFT network to carry customer payments, correspondent banking flows and the Australian dollar leg of foreign exchange transactions. ... This is also known as the SWIFT Payments Delivery System as it utilises the SWIFT
https://www.rba.gov.au/publications/fsr/2004/mar/aus-high-val-pay-sys.html
The Australian Financial System
20 Oct 2018
FSR
– October 2018
As part of this work RITS has recently undergone two external reviews, which assessed it as being compliant with all Society for Worldwide Interbank Finanical Telecommunication (SWIFT) mandatory security controls and
https://www.rba.gov.au/publications/fsr/2018/oct/aus-fin-sys.html
The Australian Financial System
20 Oct 2017
FSR
– October 2017
SWIFT, a key provider of payments messaging infrastructure to the financial industry, has also announced a new policy framework for ensuring users of its infrastructure apply appropriate security controls.
https://www.rba.gov.au/publications/fsr/2017/oct/aus-fin-sys.html
Developments in the Financial System Infrastructure
10 Sep 2005
FSR
– September 2005
The HVCS allows participants to send large-value payment instructions to the RTGS system using the global SWIFT network.
https://www.rba.gov.au/publications/fsr/2005/sep/dev-sys-infra.html