Consider the following about the Society for Worldwide Interbank Financial Telecommunications (SWIFT):
1. It is basically a messaging network used by banks and financial institutions globally for quick and faultless exchange of information pertaining to financial transactions.
2. It is regulated by G7 central banks.
Which of the statements given above is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2