Explanation:

Explanation: The SWIFT - Society for Worldwide Interbank Financial Telecommunication - is a secure financial message carrier — it transports messages from one bank to its intended bank recipient. Its core role is to provide a secure transmission channel so that Bank A knows that its message to Bank B goes to Bank B and no one else. Bank B, in turn, knows that Bank A, and no one other than Bank A, sent, read or altered the message en route. Banks, of course, need to have checks in place before actually sending messages. The SWIFT is a global member-owned cooperative that is headquartered in Brussels, Belgium. The ?11,500 crore fraud in the Punjab National Bank where fund transfer through an inter-bank messaging system was not reported to the core banking solution, followed by the cyber-attack on the City Union Bank, has put the spotlight once again on SWIFT or the Society for Worldwide Interbank Financial Telecommunication.