Possible Effects Of A Russian-Chinese Joint SWIFT System On The Eurasian Economy And The World Trade System

The Society for Worldwide Interbank Financial Telecommunications, called SWIFT, is considered a cornerstone of global transactions. At its founding, SWIFT membership amounted to 239 banks from fifteen Western countries. Past examples show that SWIFT can also be used as a weapon, even though it is nominally independent. Recent statements indicate that the US and the EU are seriously considering removing Russia from the SWIFT system in case of tension. In fact, back in 2014 after Russia annexed Ukraine's Crimea Peninsula, there were calls to cut Russia off from SWIFT. In response, Russia developed a its domestic financial-communications platform. It should be taken into account that in case certain Russian banks are disconnected from SWIFT, these Russian banks and multinationals looking for ways to move money may find a warm welcome in the growing Chinese Cross-border Interbank Payment System (CIPS). In recent years, there has been a significant increase in both the EU and the US use of economic sanctions to force other countries they consider as adversaries "in line" with Western interests. Being in the same alliance no longer suffices in guaranteeing exclusion from such economic sanctions. On the contrary, such sanctions have been turned into a teaching lesson even to allies, and it is undeniable that this behavior has reached a level that will shake even the strongest alliances. It should also be kept in mind that this contemptuous approach erodes the patience of the public opinions of the countries that are not included in the Western World or constantly excluded despite being in that group. It is unlikely that the results of employing sanctions, which has become a habit for the US and the EU, to the most significant countries of the world, such as Russia and China, in terms of their military power as well as their economies, will lead to beneficial results. The developments in the coming period may serve as a reminder that the Western world must act with common sense to avoid sowing divisions in the world trade system.

The Evaluation of Block Chain Technology within the Scope of Ripple and Banking Activities

Technological developments have always led to changes in all aspects of our lives. Crypto currency is one of those changes. As a result of those changes, thousands of currencies such as bitcoin, ripple, litecoin and ethereum have evolved and have found a use in business. The present study focuses upon Ripple and tries to explain its effects on banks and business theoretically. It has been stated that the money transfer performed through Ripple is faster and more economical when compared to present systems. Additionally, it has been realised that the present SWIFT system has been influenced by that speed and economy, and therefore taken considerable technologic steps with an effort to improve its system.

A NEW INDOOR LIDAR-BASED MMS CHALLENGING COMPLEX ARCHITECTURAL ENVIRONMENTS

The use of moving devices equipped with range- and image-based sensor, generically defined Mobile Mapping systems (MMS), have been quite a disruptive innovation in the development of Geomatics techniques for 3D surveying large indoor-outdoor spaces and offer multiple solutions. The recent expansion of portable devices in the form of trolleys, backpacks, handheld tools largely implements SLAM (Simultaneous Localization and Mapping) algorithms and technology based on both Lidar and/or visual solutions for answering to the positioning and the 3D reconstruction problems. The research on MMS is directed to improve both multi-sensor integration implementation and usability of systems in diversified use contexts and application fields. The aim of the presented research is the evaluation of the potential of the Swift system recently developed by FARO Technologies, that has been fine-tuned for regular and large extent interiors mapping (such as factories, hospitals, airports, offices). The work tries to preliminary investigate the data delivery and usability of the integrated system. This is based on three elements mounted on a sliding trolley moved by the operator walking: the ScanPlan profilometer working for the 2D SLAM mapping, the static TLS Focus S-series, and the smartphone managing the sensors operation and the acquisition progress. The evaluation strategy undertaken will be based on the global and local performance analysis related to the trajectory, the data accuracy, the metric content and consistency. Two test studies belonging to the 20th century. architecture are presented in a preliminary framework of evaluation and validation: a Liberty-style cinema and the Torino Esposizioni Hall B designed in ferrocement by pier Luigi Nervi.

Advantages and disadvantages of electronic SWIFT interbank calculation systems in Russia

The international SWIFT system is an essential link in the global payment infrastructure. Its significance for conducting numerous financial transactions is hard to overestimate. Therefore, this article deals with the most detailed consideration of the issues of integration of the Russian banking system with the SWIFT system and its analogues as a means of providing an opportunity for global integration and accelerated growth.

Europe-US divergence on Middle East could be long-term

Subject European and Middle East priorities in the Middle East. Significance The US killing of Iran’s Quds Force commander Qassem Soleimani on January 3 focused international attention on continuing tensions between Tehran and Washington and revealed deep and ongoing fractures in the transatlantic alliance. These strains were not caused by Soleimani's death; they stem from fundamental strategic differences on Middle Eastern policy priorities between the transactional Trump administration and a multilaterally oriented Europe. Impacts Trump’s re-election could further divide European from US interests in the Middle East. Europe’s main focus in the Middle East will continue to be security and controlling migration, with less concern for human rights. Future EU-UK foreign policy unity will hinge on safeguarding security and defence cooperation post-Brexit. European efforts to reduce dependence on the dollar as a reserve currency, such as creating an independent SWIFT system, will gain support.

Analyzing Impact of Computer Attacks on the Banking System of the Russian Federation

The article analyzes damage caused by attacking finance organizations in the Russian Federation through activization of hacker groups. The mentioned attacks were mainly directed at banking cards’ processing, cash machines and the SWIFT system, an international system of transmitting finance information and payments. The growth in hacker penetrations can be seen in all sectors of Russian economy, it is based on informational confrontation and aims at destabilization of considerable objects of critical information infrastructure. Today special attention is paid to attacks of hacker groups, which get financing from states and criminal groupings in order to exert influence on the leading banks of the world. The author investigated the key methods of attacks of finance organizations. The role of the Federal service on technical and export control and the Department of information security of the Bank of Russia was described. By assessing the impact of computer attacks the author came to the conclusion that the Russian banking sector is vulnerable to computer attacks on informational systems that could cause damage not only to small but also big credit organizations, which possess over 60% of the Russian banking sector assets.

On Private International Law, the EU and Brexit

There is a key value embedded in the EU regime: legal certainty, as explained by Marta Requejo Isidro in this final chapter of Part I. Requejo Isidro examines the impoverishment that Brexit represents in the specific context of private international law and transnational litigation, in both commercial and family law, as this exit means a significant loss in terms of legal certainty for all parties involved. Admittedly, the hurdles of uncertainty regarding jurisdiction, or the disadvantages of losing a swift system for passporting UK judgments into Europe will not affect all stakeholders equally: some groups of the population, such as consumers, employees, small businesses, children or maintenance creditors, are likely to endure worse experiences than major litigants in complex corporate litigation. This chapter analyses the complexities of Brexit in this field as well as the contributions of English and Scottish legal systems to the development of EU private international law from a continental European perspective. It concludes that Brexit means overall impoverishment. EU law is as it is – not civil law, not common law, not even mixed, but European – thanks to many influences, including the very important British common law perspective.

Strategic Management to Prevent Money Laundering

In this chapter, the SWIFT, which is the financial communication system used by all financial institutions, will be explained. Today, most of the countries and financial institutions take precautions to avoid money-laundering and financial crimes. The SWIFT system will be examined in relation with financial communication, compliance, money laundering, know your customer, and sanctions. Public became aware of the sanctions when HSBC has agreed to pay $1.92 billion dollars to state authorities in 2012 for transfering dollars illegally into US. Banks apply “Know Your Customer” procedures to avoid such risks. In relation with sanctions, precautions of SWIFT system will be defined. SWIFT has started a new application namely KYC Registry which enables to have necessary information about the customers in international trade, through cross borders. The reasons why this applicatiıon must be used, how risk will be mitigated, by sharing information with maximum transparency and SWIFT's new KYC application will be defined.

Reconceptualizing Inclusive Education Through Multi-Tiered System of Support

Inclusive education, defined as “full inclusion,” has generated controversy for nearly three decades with special education placement at the heart of the debate. Whole-school application of Multi-Tiered System of Support (MTSS) offers a reframing of the problem with potential for social and academic gains for all students, including those with extensive needs for extraordinary supports and services. In this paper, we review history and contemporary definitions of MTSS; the emerging evidence base in support of its efficacy for improved student level outcomes; and a comprehensive, sustainability and scale-up system of MTSS called SWIFT (Schoolwide Integrated Framework for Transformation). Some preliminary impact results from a four-year project to provide technical assistance to five states, 17 school districts, and 64 schools installing the SWIFT system are presented.