- Anti Money Laundering
- automatic extension
- bill of lading
- Counter Terrorist Financing
- financial crime
- Financial Guarantee
- Independent Guarantee
- LC Law
- LC Statistics
- Red Flags
- Standby LC
- Trade Based Financial Crime Compliance
- tranport documents
- wrongful dishonor
Prime Bank Instrument Scams mimic legitimate financial instruments and transactions.
Regrettably, they were quite common in the 1990s.
And now they are resurfacing. For example:
Hello We are broker firm in London-UK, we have direct Provider of BG/SBLC specifically for Lease, The provider is tested and trusted. We have been dealing with the company for paste 6 years. Interested Agent/Lessee should contact us for directives. We also give out a loan for project funding. We are one of the leading financial company, we have major's providers of Fresh Cut BG, SBLC, POF, MTN, Bonds and CDs that are registered with us and this financial instruments are specifically for lease and sale, our providers deliver in time and precision as Seth forth in the agreement. You are at liberty to engage our leased facilities into trade programs, project financing, Credit line enhancement, Corporate Loans (Business Start-up Loans or Business Expansion Loans), Equipment Procurement Loans (industrial equipment, air planes, ships, etc.) And many more , Our terms and Conditions are reasonable.
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG)/SBLC (Appendix A) 2. Total Face Value: 10M MIN to 50B MAX USD or Euro 3. Issuing Bank: any Top 25 . 4. Age: One Year, One Day 5. Leasing Price: 6+ 2% 6. Sale Price: 42+2% 7. Delivery SWIFT TO SWIFT. 8. Payment: MT103-23 9. Hard Copy: Bonded Courier within 7 banking days. If you have need for corporate loans, international project funding, etc. or if you have a client who requires funding for his project or business, We are also affiliated to lenders who specialises on funding against financial instrument, such as BG, SBLC, POF or MTN, we fund 100% of the face value of the financial instrument.Enquiries from agents/ brokers/ intermediaries are also welcomed; Please reply back if you are interested in any of our service... Thanks [name] E-mail: [address]
These emails and other offerings like them draw credibility from reference to reputable financial products like bank guarantees and standby letters of credit. Inevitably, however, they involve distortion of these legitimate financial vehicles either by falsifying them or intermingling their characteristics in a manner which distorts them. To successfully do so, they rely on ignorance or confusion regarding the true purpose of these vehicles.
Do you know the phrases to watch out for? More importantly, can your staff members recognize the warning signs?
will provide you and your staff with useful insight into the commonalities of these scams. The book features past warnings issued by major international organizations and governmental agencies, examples of the type of materials frequently used in scams, variations of the traditional prime bank scam, and details of prosecuted cases.
Read a free excerpt of the book’s opening article to get a better idea of the myth (and the threat).