3 ms·
> if your local government has banned the money movement it won’t go through (modulo money laundering & dodgy banks) That's my point and OP's : they didn't pre
by pomdapi 5y ago
> if your local government has banned the money movement it won’t go through (modulo money laundering & dodgy banks)
That's my point and OP's : they didn't prevent it, just the messaging through SWIFTnet. TARGET2 and STEP2 still fully work.
Also, you can transfer batches of messages through FTP cronjobs and automated import at night, like it was done 20+ years ago. It just slows settlement from 1-2 days on average to 4-7 business days, depending on the correspondent bank.
Also, you can easily automate use the plenty free MT103 fields for additional routing data ex-SWIFTnet.
It's something which is often done - source : been there, done that, in my youthful days.
> “high finance” for Russian corporations and international corps doing business there slower and more risky.
Yes, anything in regards to transnational money. More expensive, too, but what's that in this inflationary world. A drop in the bucket of Moloch.