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1) The US owns the SWIFT network and monitors transactions globally. 2) During the Falklands War, Argentina was prevented from buying munitions since South Ame
by redis_mlc 6y ago
1) The US owns the SWIFT network and monitors transactions globally.
2) During the Falklands War, Argentina was prevented from buying munitions since South American banks were monitored for transactions with Europe. Like any bureaucracy, once they used a bank, they never moved to a new one after a transaction.
- mrkramer 6y agoUS does not own SWIFT, SWIFT is a Belgian company and it is in compliance with Belgian law and with international law through Belgium. Like any other company it must turn in information if requested by court order. For example US was deep into banking system of Middle East countries[1] because they couldn't get all SWIFT transactions they wanted. If you are to blame SWIFT blame Belgium first because they essentially decide what happens with SWIFT at the first place. After 2001 world is not the same, anti-terrorist and anti-laundering laws are pervasive but I suppose for greater good. [1] https://www.nytimes.com/2017/04/15/us/shadow-brokers-nsa-hack-middle-east.html https://www.nytimes.com/2017/04/15/us/shadow-brokers-nsa-hac...