Swift to Launch AI-Powered Fraud Defence to Enhance Cross-Border Payments

Swift announced it will roll out AI-enhanced fraud detection across its global payments network from January 2025, expanding its Payment Controls Service by leveraging pseudonymised transaction data and federated learning to flag suspicious activity in real time. Developed with major banks and following a successful pilot, the initiative will be further tested in a sandbox and is positioned to strengthen defenses against rising financial fraud, with endorsements from BNP Paribas and Standard Bank as part of Swift’s strategy to maintain trust, security, and compliance in frictionless international transactions.