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I want to know with increase Anti money laundring into banks like african banks how they are trying to implement Swift payments when banking with SEPA Countries.
SEPA is an expensive manual process in Europe at the moment. The banks spent all the money on legislation and governance, but very little on IT implementation. It has slowed inter bank payments in Europe.
How it helps against money laundering is beyond me, it is no safer than the previous BACS system.
I can give you many possible answers but here we are not trying to show case.You should ask this question to the system because its a matter of soul.
