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If you are in any doubt about any of the bank instrument scams that are posted in this forum then take a read of the above warning from the FBI.
The Internet Crime Complaint Center (IC3) has received complaints indicating fraud actors are fabricating business and financial industry connections, and access to international commodities markets in order to sell fictitious Standby Letters of Credit (SBLCs), which have resulted in significant financial loss to victims. Fraud actors claim they have connections to SBLCs at legitimate banks and use their purported business and ease of access to large sums of money to demonstrate legitimacy and draw in investors.
SCAM COMMONALTIES:
Offering returns or loans that are disproportionate to the risk involved
Mimicking of legitimate financial instruments like SBLCs
“Non-recourse” or “forgivable loans,” where investors do not have to repay the loaned funds
“Blocking of funds” or “proof of funds,” typically with the use of a SWIFT MT 799 or MT 760
Being asked to pay an advanced fee prior to funding or to initiate the loan or investment
Transfering funds overseas or using foreign banks
Improper references to legitimate financial institutions without their knowledge or consent
Unnecessary secrecy or the signing of a non-disclosure agreement
Intricate explanations and excuses as to why the promised funds or returns have failed to materialize
The use of escrow accounts, including attorney escrow accounts
The term “monetize”
While all of these elements may not appear in any one scam, it is common for several of them to occur. The defining characteristic, however, is the promise of a disproportionate return or loan without risk from a source, which is obscure or unable to be accurately verified. All of the other features serve either to add credibility to the investment or loan, or to entice or distract investors from asking the penetrating questions they should.
If you are reading this post because you have been contacted by this individual then you are100% being scammed - all my posts are thoroughly researched before being posted.
In general, investment programs that purport to offer an introduction to secret investment markets, which offer above-market rates of return with below-market rates of risk for privileged customers with special access, are fraudulent. There are no secret markets in Europe or in North America in which banks trade securities. Any representations to the contrary are fraudulent.
Some phrases are commonly seen in documents presented by fraudsters in the course of Platform trading schemes. If any of these phrases appear in documentation, the investment opportunity should be treated with suspicion. These “red-flags of investment fraud” include:
Non-circumvention, non-disclosure
Good, clean, clear, and of non-criminal origin
Blocked Funds Investment Program
Private Placement Program
Prime Bank Trading Program
Medium-Term, Mid-Term, or Seasoned Note Trading Program or Platform
Federal Reserve approved
Roll Program
Irrevocable Pay Orders
Unconditional Bank Guarantee
Prime Bank Notes, Guarantees, Letters of Credit, Standby Letters of Credit
Fresh-cut paper
Top 100, 50, 25, 10, etc. European/World Banks
Trading Platform or Platform Trading Program
Insurance Wrap protecting investment value
Paymaster who handles funds disbursement
Exit-buyer
If you are reading this post because you have been contacted by this individual then you are100% being scammed - all my posts are thoroughly researched before being posted.