3 ms·

SWIFT is a decentralized system with irreversible transactions.

• polygamous_bat 3y ago
  I would bargain, however, that scamming people over SWIFT would swiftly put you into jail.
  • everfree 3y ago
    International wire transfer scams are still somewhat common. The amount of convicted perpetrators is surprisingly low. The best tool we have against them is prevention. In practice, this usually means a friendly bank employee refusing to honor a customer's wire transfer. Because once the money is sent, there's no getting it back. In fact, all else equal, I'd rather have crypto stolen by someone else in my home country than to have fiat currency stolen by an international thief. At least with the domestic criminal there's some chance of tracing the theft, tracking them down, and bringing them to justice in my home justice system. With the international thief, there's really zero chance of that.