SWIFT CODE Definition

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SWIFT CODE, within the context of international payment transactions, is a code issued by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) that enables banks worldwide to be identified without the need to specify an address or bank number. SWIFT codes are used mainly for automatic payment transactions.

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ENCRYPTION is the scrambling of data so that it is meaningless to anyone but the intended recipient, who has the key to unscramble the data to its original form.

EV (economic value) is the value of an asset deriving from its ability to generate income.

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