Posted on 06/25/2006 7:11:37 PM PDT by NormsRevenge
Too bad all information published about the operation of this program in the NY Times was already public.
From a 2002 UN report:
"The settlement of international transactions is usually handled through correspondent banking relationships or large-value message and payment systems, such as the SWIFT, Fedwire or CHIPS systems in the United States of America. Such international clearance centres are critical to processing international banking transactions and are rich with payment information. The United States has begun to apply new monitoring techniques to spot and verify suspicious transactions. The Group recommends the adoption of similar mechanisms by other countries."
Source: http://daccessdds.un.org/doc/UNDOC/GEN/N02/725/72/PDF/N0272572.pdf?OpenElement
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