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A SWIFT ban for Russia may sound important but there are many ways the country can get around it

FinLync | March 14, 2022

In recent weeks, Russia has been hit with a list of economic sanctions from Western states for its invasion of Ukraine.   But according to finance experts, there are many ways Russia can get around a SWIFT ban.

Mitch Thomas, head of product development at a New York-based fintech company, FinLync, told Insider: “It sounds good to be able to say that we’ve restricted communication with these banks via SWIFT but in reality, [Russia] has got a number of different mechanisms to get money out of the country.”

Read the full article on Business Insider here