niceideas.ch (Comments)https://www.niceideas.ch/roller2/badtrash/feed/comments/atom2024-03-13T10:05:04-04:00Apache Rollerhttps://www.niceideas.ch/roller2/badtrash/entry/modern-information-system-architectures#comment-1681727380173Re: Modern Information System ArchitecturesPradyumna2023-04-17T06:29:40-04:002023-04-17T06:29:40-04:00Great article !!! Great walkthrough of the entire timeline of how IS developed over the yearshttps://www.niceideas.ch/roller2/badtrash/entry/artificial-intelligence-and-fraud-prevention#comment-1675164012553Re: Artificial Intelligence and fraud prevention with Netguardians' CTO, Jérôme KehrliSamuel Sutcliffe2023-01-31T06:20:12-05:002023-01-31T06:20:12-05:00I very much enjoyed listening to this Jerome, thank you! https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1670752496301Re: Dissecting SWIFT Message Types involved in paymentsAmeer Ansari2022-12-11T04:54:56-05:002022-12-11T04:54:56-05:00Nice explanation..
But under 2.2.1.3 MT103 Example3: forwarded serial message, the receiving bank BBPOFRXA54B will not come to know about BXYZCHZZ80A, which had received the funds from BCVSCHZU12A and forwarded it to BNPSFRZA93B (which is a sender here).
Is Field 72 required here with code /INS/?
For example, 72:/INS/BXYZCHZZ80Ahttps://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1647371103841Re: Dissecting SWIFT Message Types involved in paymentsGayatri 2022-03-15T15:05:03-04:002022-03-15T15:05:03-04:00Wonderful article on MT103 and MT202COV. I tried to locate you on LinkedIn but in vain, nevertheless shared your article over a discussion. :).
Need an info:
For sanctions screening of Correspondent banking scenario, what would be mandatory fields to be screened to avoid ML and TF risks?
Cheers,
Gayatri.https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1643921395941Re: Dissecting SWIFT Message Types involved in paymentsPulkit Singhai2022-02-03T15:49:55-05:002022-02-03T15:49:55-05:00Hello,
Question: How do the bank fund their Vostros with other banks?
Suppose Bank INR Mumbai maitains a INR vostro of Citibank NY. How exactly will Citi fund it? Will Citi send a MT202 to Bank INR Mumbai? Which account will be debited at Bank INR Mumbai, before it credits Citi's Vostro? https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1631295671564Re: Dissecting SWIFT Message Types involved in paymentsAmresh2021-09-10T13:41:11-04:002021-09-10T13:41:11-04:00Hey Jerome, Really it's showing the hidden truth of transaction flow in payment system. I am very excited to look forward, regarding ISO20022 format messaging system. Thanks a lot for sharing this post.https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1628251199708Re: Dissecting SWIFT Message Types involved in paymentsAdithya2021-08-06T07:59:59-04:002021-08-06T07:59:59-04:00Hey Jerome, I have referred many articles to understand swift messages and its working mechanism, none of it can match the quality of the content and examples which you have given here...thanks for this well written articlehttps://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1627571787200Re: Dissecting SWIFT Message Types involved in paymentsArnold2021-07-29T11:16:27-04:002021-07-29T11:16:27-04:00Hi Jerome. Thank you for this article! You start your MT101 Example 1 with a fund transfer request of 50K CHF. How are exchange rates handled? In the MT101 message itself, I can only find a 500K EUR amount.https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1626097756583Re: Dissecting SWIFT Message Types involved in paymentsSAN2021-07-12T09:49:16-04:002021-07-12T09:49:16-04:00very good article!!https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1625070418557Re: Dissecting SWIFT Message Types involved in paymentschaitanya kumar2021-06-30T12:26:58-04:002021-06-30T12:26:58-04:00Hi Jerome,first of all thanks for such a wonderful article on SWIFT payments. Appreciate your efforts for taking multiple business cases and giving such a clear explanation. This really helped me to get the concepts cleared for the MT series messages at tag level. Keep the good work coming up more.
If possible please come up with the article on SWIFT MT to ISO 20022 MX mapping.https://www.niceideas.ch/roller2/badtrash/entry/java-rocks#comment-1622905505352Re: Java rocks !Venkat2021-06-05T11:05:05-04:002021-06-05T11:05:05-04:00Figured out the issue... we need to reset the limit after rewind method as below, else if any time because of character limit if the read limit is 9, then it try to use same for next flow.
<br />
<b>
bBuffer.limit(byteLimit);
</b>https://www.niceideas.ch/roller2/badtrash/entry/java-rocks#comment-1622895487023Re: Java rocks !Venkat2021-06-05T08:18:07-04:002021-06-05T08:18:07-04:00missed to tell that I used buffer size of 10 instead of 500https://www.niceideas.ch/roller2/badtrash/entry/java-rocks#comment-1622895206577Re: Java rocks !Venkat2021-06-05T08:13:26-04:002021-06-05T08:13:26-04:00When I try with test data as "ABCकखगघङD" instead of splitting into 2 tokens, the current code splitted into 3.
Output [ABCकख, गघङ, D]
But the last character D is single byte char and can fit into second token.https://www.niceideas.ch/roller2/badtrash/entry/deciphering-the-bengladesh-bank-heist#comment-1621695374989Re: Deciphering the Bangladesh bank heistNN2021-05-22T10:56:14-04:002021-05-22T10:56:14-04:00Thank you, this was a great writeup. I'm still confused on why it wasn't harder to launder the funds.
$81M seems like a lot to lose track of. Did the attackers spread the money among many accounts at the casino? If not, does the casino not collect any identification for who takes out large withdrawals in chips?
If the transfer to the Sri Lankan charity had worked out, could the Sri Lankan bank have reversed the transfer? If not, what would have prevented them from doing so? I understand if the money is withdrawn as cash it's "gone" but it seems really difficult to withdraw $20M in cash without collecting identification.https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1616674066004Re: Dissecting SWIFT Message Types involved in paymentsJavier2021-03-25T08:07:46-04:002021-03-25T08:07:46-04:00Congratulations Jerome!
It is a very well explained and very clarifying article.
Considering the current trend of migration to ISO20022, could I challenge you to come up with an article between MT and MX mapping?https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1605749093723Re: Dissecting SWIFT Message Types involved in paymentsElisa2020-11-18T20:24:53-05:002020-11-18T20:24:53-05:00Thanks for this article, it helped me better understand these messages for a professional certificationhttps://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1605022146641Re: Dissecting SWIFT Message Types involved in paymentsPoonam Gupta2020-11-10T10:29:06-05:002020-11-10T10:29:06-05:00Very Informative . Can you please cover other FAST payments Faster Payments Services, CHAPS, BACS
mainly Payment Domain areas more in detail as - Payment domain dig in details and conceptshttps://www.niceideas.ch/roller2/badtrash/entry/lean-startup-a-focus-on#comment-1603525991081Re: The Lean Startup - A focus on PracticesCarlos Cerqueira2020-10-24T03:53:11-04:002020-10-24T03:53:11-04:00Great article, this is very well summarized and explained, congrats. I'll give it to my students as it is one fo the best articles I have read about these topics.
Just a side note, to clarify the 4 books chronology. The 1sr edition of the book "The Four Steps to the Epiphany", by Steve Blank was published in 2003 (<a href="https://www.goodreads.com/work/editions/748633-the-four-steps-to-the-epiphany-successful-strategies-for-startups-that).">https://www.goodreads.com/work/editions/748633-the-four-steps-to-the-epiphany-successful-strategies-for-startups-that).</a> Eric Ries was Steve's Blank student and Lean Startup book is a continuation of the ideas in The Four Steps to the Epiphany".
(<a href="https://steveblank.com/2010/04/29/teaching-customer-development-and-the-lean-startup-–-topological-homeomorphism/)">https://steveblank.com/2010/04/29/teaching-customer-development-and-the-lean-startup-–-topological-homeomorphism/)</a>https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1601306546988Re: Dissecting SWIFT Message Types involved in paymentsamit2020-09-28T11:22:26-04:002020-09-28T11:22:26-04:00Hello Jerome,
Thanks for the information!!
I have one query : If sender doesn't have a direct account relationship with a Beneficiary institution in the currency of transfer then on what basis a payment system will decide whether to used a "Serial" or "Direct/cover" method..... Is it based on RMA?
Thankshttps://www.niceideas.ch/roller2/badtrash/entry/the-search-of-product-market#comment-1598202710170Re: The Search for Product-Market FitMike Griffiths2020-08-23T13:11:50-04:002020-08-23T13:11:50-04:00Great article, thanks. This is a well-written synthesis of many important concepts, all brought together in a logical flow, with a consistent voice and clear graphics - nice work.https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1597337374902Re: Dissecting SWIFT Message Types involved in paymentsGaurav2020-08-13T12:49:34-04:002020-08-13T12:49:34-04:00In example 3 of MT103
How sender bank will know about the intermediary bank('BNP') i.e. F56. Does this bank has any relationship with BNP, if YES then instead of routing through bank 'XYZ' should BCV bank directly routes MT103 to BNP rather through XYZ.
If NO then what is the mechanism or routing idea used by BCV to identify F56 value ?https://www.niceideas.ch/roller2/badtrash/entry/deciphering-the-bengladesh-bank-heist#comment-1595271827821Re: Deciphering the Bangladesh bank heistJerome Kehrli2020-07-20T15:03:47-04:002020-07-20T15:03:47-04:00Yeah you have a point, I should reformulate.
Both paragraph are actually true and relate to different perspective.
It is true that the SWIFT network has not been compromised and it behaves as expected. The Bangladesh Central Bank Systems have been compromises and it's through these banks systems that the hackers managed to issue fraudulent SWIFT messages to the network.
Nevertheless, the result is still that there have been fraudulent messages sent to the SWIFT network, and that is very worrying since before the Bangladesh bank case, everyone would have deem it impossible. That's what I meant with the first paragraph. Hope it clarifies things.https://www.niceideas.ch/roller2/badtrash/entry/deciphering-the-bengladesh-bank-heist#comment-1594893126875Re: Deciphering the Bangladesh bank heistEfroim Rosenberg2020-07-16T05:52:06-04:002020-07-16T05:52:06-04:00The following 2 paragraphs contradict each other:
Perhaps the most troubling aspect of the whole episode was that the hackers managed to hack into the SWIFT software. SWIFT, lies at the heart of the global financial system and is a network which connects majority of the world's financial institutions and enables them to send and receive financial information about financial transactions.
However, It was the bank's own systems and controls that were compromised, not the SWIFT network connection software. The SWIFT software behaved as it was intended to, but was not operated by the intended person or process. This was really a bank problem, not a SWIFT problem.
The swift software was not hacked, contrary to the first paragraph.https://www.niceideas.ch/roller2/badtrash/entry/java-create-enum-instances-dynamically#comment-1591583225814Re: Java - Create enum instances dynamicallydzc2020-06-07T22:27:05-04:002020-06-07T22:27:05-04:00thankshttps://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1587650499742Re: Dissecting SWIFT Message Types involved in paymentsJohn Simon2020-04-23T10:01:39-04:002020-04-23T10:01:39-04:00Hi Jerome, This is truly straight forward easy to understand article. Most of the information I was looking for was here. Thanks! https://www.niceideas.ch/roller2/badtrash/entry/java-create-enum-instances-dynamically#comment-1582234086153Re: Java - Create enum instances dynamicallyJonatas Laet2020-02-20T16:28:06-05:002020-02-20T16:28:06-05:00@caspar, how is the code after doing that you've said "You just need to add two parameters..."?https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1573584970201Re: Dissecting SWIFT Message Types involved in paymentsShola2019-11-12T13:56:10-05:002019-11-12T13:56:10-05:00Hey Jerome, great write up , quite interesting and very explanatory. i observed a little mix up on the examples on MT202. you represented field 53B as receivers correspondence instead of sender correspondence in examples 1 & 2 , but beyond that you demonstrated a good knowledge of these areas.
Keep up the good work.https://www.niceideas.ch/roller2/badtrash/entry/dissecting-swift-message-types-involved#comment-1570882097805Re: Dissecting SWIFT Message Types involved in paymentsArchana2019-10-12T08:08:17-04:002019-10-12T08:08:17-04:00Hello Jerome, This content is rich with examples and functionality explained amazingly. I googled a lot to understand MT101 and MT103. But I got all my doubts solved by your explanation.
Thanks a lot....https://www.niceideas.ch/roller2/badtrash/entry/java-create-enum-instances-dynamically#comment-1566935389816Re: Java - Create enum instances dynamicallycaspar2019-08-27T15:49:49-04:002019-08-27T15:49:49-04:00@dasvin,
You just need to add two parameters to `addEnum(Class<?> enumClass, String value, int ordinal, Class<?>[] additionalTypes, Object[] additionalValues) throws Exception` these two arrays are then passed to `makeEnum`.
@Jerome Kehrli - definitely a "nice idea", thank you for the implementationhttps://www.niceideas.ch/roller2/badtrash/entry/java-create-enum-instances-dynamically#comment-1561551660235Re: Java - Create enum instances dynamicallydasvin2019-06-26T08:21:00-04:002019-06-26T08:21:00-04:00Can you extend this to construct an Enum with parameters like TestEnum("a", 1), TestEnum("b", 2).
I tried passing them but runs into the MethodNotFound exception when creating a constructor.
Can you provide the code snippet that constructs the Enum with input params?