News for hackers. Stuff that matters.

A comment on A quick breakdown of what SWIFT is and why it matters. Parent comment

Re:A quick breakdown of what SWIFT is and why it matters by baby on Saturday February 26, 2022 @01:07AM (#30475525)
I thought swift was just a protocol that banks used to talk to one another. If so how can it be used to cut russia? I’m guessing I’m missing a part where it is some centralized server somewhere?
[ Parent | on HN ]
Re:A quick breakdown of what SWIFT is and why it matters by sealthedeal on Saturday February 26, 2022 @10:31AM (#30478348)
It’s just how banks tell one another money is coming to them. Without Swift money would just be showing up and no one would know wtf was going on.
[ Parent | on HN ]
Re:A quick breakdown of what SWIFT is and why it matters by baby on Saturday February 26, 2022 @11:31AM (#30478993)
I'm not sure I understand, how does "money show up"? Do you mean that bank A doesn't have an account at bank Z, so they must take another route A -> B -> Z, and thus at some point bank B might credit bank Z account and bank A needs to tell that to bank Z?
[ Parent | on HN ]