SPFS - Wikipedia
The System for Transfer of Financial Messages (Russian: Система передачи финансовых сообщений, romanized: Sistema peredachi finansovykh soobscheniy), abbreviated SPFS (Russian: …
Financial Messaging System of the Bank of Russia (SPFS)
Feb 13, 2025 · The Financial Messaging System of the Bank of Russia (SPFS) is a safe and reliable channel for exchanging electronic messages on financial transactions that operates 24/7/365.
Nov 21, 2024 · Russia has used and promoted SPFS, designed as an alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, to maintain international …
25 countries join Russia’s payment system as an alternative to SWIFT
Apr 3, 2025 · In 2014, Moscow developed its own payment system, SPFS, which it began testing and using with select countries before officially launching it in December 2017.
The OFAC SPFS Alert and Its Implications for Global Financial ...
May 7, 2025 · SPFS was developed in response to Western sanctions following Russia's annexation of Crimea. By providing an alternative messaging system for financial transactions, it allows Russian …
Bank of Russia’s system for transfer of financial messages (SPFS ...
System for transfer of financial messages (SPFS) is a “Russian analogue to SWIFT” that has been developed by the Bank of Russia since 2014. That software package is designed to create and …
Understanding OFAC's SPFS Alert and the Impact on Banking …
Nov 25, 2024 · SPFS, Russia’s alternative to SWIFT, was launched in 2014 in response to Western sanctions after Moscow annexed Crimea. Managed by the Russian Central Bank, SPFS allows …
OFAC Warns of Sanctions Risk in Joining the Russian System for …
Nov 26, 2024 · According to OFAC, the Central Bank of Russia created the SPFS “with the express purpose of diminishing the effect of sanctions imposed by the United States and its partners and …
OFAC Warns Foreign Financial Institutions Against Joining Russian ...
On November 21, 2024, the United States Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued an alert cautioning foreign financial institutions against joining the Russian...
18 non-residents from 4 countries joined the SPFS for the year
Apr 9, 2025 · SPFS is used by Russian banks both as a backup channel for the exchange of financial messages, and as an alternative to SWIFT in cases where it is economically justified.