The past few months have witnessed an incident that may have major ramifications in both the international banking industry and international commerce in general. It concerns the data transfer travails of SWIFT, the Society for Worldwide Interbank Financial Telecommunications.[FOOTNOTE 1] This matter is not yet concluded, nor is it clear how it will be resolved. Given New York City’s status as a major global financial hub, many attorneys in this area should be following this situation closely.
SWIFT is a Belgian cooperative association formed by thousands of private companies. Its members are financial institutions such as banks, investment houses and brokers that transfer funds around the world.[FOOTNOTE 2]
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]