The SWIFT Duplicate Detection Service (DDS) is a service provided by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to help financial institutions detect and prevent the processing of duplicate transactions.
The DDS operates by comparing Universal Unique Identifier (UUID) End-to-End Transaction References (UETRs) against a central database of previously used UETRs. When a financial institution submits a UETR to the DDS, it receives a response indicating whether the UETR is unique or has been previously used within a specified time frame.
The DDS helps financial institutions identify potential duplicate transactions and take appropriate actions to avoid processing them. By using this service, financial institutions can enhance the accuracy of their transaction data, reduce operational risks, and improve efficiency in their payment processes.
It’s important to note that the DDS is an optional service provided by SWIFT, and financial institutions need to subscribe to and integrate it into their systems to benefit from its functionality.
