Swift has announced a new real-time payment controls service to complement and strengthen its customers’ existing fraud controls.

The new fraud and cyber-crime prevention service will enable Swift customers to screen their payment messages according to their own chosen parameters, enabling them to immediately detect any unusual message flows before transmission.

Customers will be able to integrate the service directly into their Swift messaging flows, enabling the detection of unusual or uncharacteristic payment patterns.

They will also be able to define and control their screening parameters according to their own risk and compliance policies, and choose whether to set the review permissions for the alerts centrally, or at individual access points.

“The new payment controls service is a direct response to our community’s request for additional services to complement and strengthen existing fraud controls,” says Yawar Shah, Chairman, Swift.