Features and benefits

SWIFT Payment Controls helps mitigate fraud risk through its unique alerting and reporting capabilities for payment operations.

Features

Combining real-time monitoring, alerting and blocking of sent payments with independent daily reporting.

Real-time monitoring Intelligent technology Secure SWIFT-hosted service
Real-time, 'in-flight' monitoring of the payments you send Intelligent technology that learns behavioural patterns over time, supporting continuous improvement Secure, SWIFT-hosted service with zero footprint and instant switch-on
Pre-built report Simple rule configuration management Secure and audited workflow
Powerful but simple to use pre-built reports covering both sent and received payments, easily tailored by subscribers Simple rule configuration management with mix and match alert operating modes Secure, audited workflow to streamline investigations and manage blocked payments
Real-time monitoring Intelligent technology Secure SWIFT-hosted service
Real-time, 'in-flight' monitoring of the payments you send Intelligent technology that learns behavioural patterns over time, supporting continuous improvement Secure, SWIFT-hosted service with zero footprint and instant switch-on
Pre-built report Simple rule configuration management Secure and audited workflow
Powerful but simple to use pre-built reports covering both sent and received payments, easily tailored by subscribers Simple rule configuration management with mix and match alert operating modes Secure, audited workflow to streamline investigations and manage blocked payments

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Benefits

Mitigating fraud risk and building a safer, more secure future.

Stop high-risk payments in real time Mitigate regulatory and reputational risk Improve payment speed, transparency and reliability
Stop high-risk payments in real-time Mitigate regulatory and reputational risk Improve payment speed, transparency and reliability
Complete independence Business assurance Alert coverage of key payment messages
Complete independence from your internal back-office systems Provide business assurance to counterparties Alert coverage of key payment messages MT103, MT202 and MT202COV
Stop high-risk payments in real time Mitigate regulatory and reputational risk Improve payment speed, transparency and reliability
Stop high-risk payments in real-time Mitigate regulatory and reputational risk Improve payment speed, transparency and reliability
Complete independence Business assurance Alert coverage of key payment messages
Complete independence from your internal back-office systems Provide business assurance to counterparties Alert coverage of key payment messages MT103, MT202 and MT202COV

Protect your payment operations against fraudulent attacks

Payment Controls - Know, See, DoProtect your payment operations against fraudulent attacks
Fraud control
2 min view

Protect your payment operations against fraudulent attacks

Alerting and reporting

Help mitigate fraud risk through its unique alerting and reporting capabilities for payment operations

Combining real-time monitoring, alerting and blocking of sent payments ..

Payment Controls offers validated, correspondent-focused models and indicators. You choose how you use these, aligned with your risks and operational processes. Its flexible, easy-to-use interface supports fine-tuning as policies and risks evolve.

Payment Controls will alert you when any payment triggers a rule. You can configure any rule in one of three operational modes:

  • Alert-only mode: the triggering payment message will be delivered to your receiver, without interruption, and an alert will be generated simultaneously. You can investigate this alert and undertake any necessary response and recovery activities.
  • Manual review mode: the triggering payment message will be held in-network by the service and an alert will be generated for your review and investigation. You decide whether to abort the message or release it for delivery.
  • Auto-action mode (future enhancements): the triggering payment message will be automatically aborted and an alert will be generated simultaneously.

 

.. with independent daily reporting

Payment Controls reporting provides an independent record of your inbound and outbound payment activity, enabling you to validate whether your in-house payment system's record of activity is correct.

  • Validate activity: quickly assess and validate inbound and outbound payment flows. Daily activity is aggregated by message type, currency, country and counterparty, enabling easy comparison with internal reports from core systems. Daily value and transaction references help you match individual transactions for more detailed validation.
  • Assess risk: highlight large or unusual message flows that may indicate fraud risks. You can review new or unfamiliar counterparties or counterparty combinations, including nested activity. Transactions sent or received outside of user-defined business hours are highlighted.

Resources

Payment Controls - Protect your core payments

Do what cyber attackers don’t want. Work with SWIFT to monitor and protect your core payments on three fronts.

Brochures

SWIFT Payment Controls – Protecting your payments against fraudulent attacks

Learn how our new anti-fraud solution can help strengthen your security strategy

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Also available in: 
English
Case Studies

Regional African bank protects connection to global financial system

Looking for a cost-effective and simple solution, a regional African bank took advantage of SWIFT Payment Controls to monitor its outbound payments in real time.

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English