Q. What does ‘S’ stand for in ‘SWIFT’ financial messaging service?
Answer: Society
Notes: The SWIFT system stands for the Society for Worldwide Interbank Financial Telecommunication. It is the world's leading provider of secure financial messaging services. Recently, the US and European Union (EU) have decided to cut off a number of Russian banks from the SWIFT platform. The assets of Russia’s central bank are also expected to be frozen, to restrict Russia’s ability to access its overseas reserves.

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