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Monthly Archives: August 2016

Swift.net Fraud

Secure Platform Funding makes money closing real deals with real customers we have zero interest wasting time on fraudulent deals so in an effort to help our clients and brokers better identify fraudulent transactions here is an example we received today of a Deal that is red hot Swift.net fraud.

1/ Recently we published an article titled WARNING: The Unrated Bank Guarantee Scam where we said the following about a Swift.Net Fraud Scam.....

This is a very sneaky scam where the Bank Guarantee or Standby Letter of Credit Provider says they can ONLY deliver the bank guarantee on swift.net instead of swift.com. That statement alone is a huge red flag! ALL real banks and ALL real bank guarantees or stand by letters of credit are normally transmitted and delivered on the swift.com bank to bank system that is used and recognized by all rated banks worldwide or DTC or Euroclear. Any bank who says they cannot deliver on swift.com is saying i don't have access to the "real" bank guarantee and standby letter of credit delivery system, I can only use swift.net which is a completely different system by a very similar name. Swift.net DOES NOT HAVE ANYWHERE NEAR the credibility, recognition, security or acceptance of swift.com.

And the biggest secondary issue with swift.net is that messages often do not arrive directly at the destination because they have to be "downloaded" to be read. If you don't know a message is coming and you don't download it then you never know about the message and therefore its impossible for you to reply!

Many Providers use swift.net to send a worthless Bank Guarantees, Standby Letters of Credit or Blocked Funds to the client on the widely unrecognized swift.net service, then when no one at the clients receiving location acknowledges the message because they didn't know to download it, the bank guarantee provider claims they delivered the Bank Instrument as per YOUR Bank Instrument Supply Contract and YOU breached YOUR contract by NOT replying to the swift.net message so they are keeping your deposit. Its just another sad old scam to take your money repackaged in a new way.

2/ We also published this article titled The Blocked Funds Email Scam, the below Blocked Funds Swift.net fraud example is a hybrid of a Swift.net Fraud Scam AND the Blocked Funds Scam. The scammers seem to have taken a little from each strategy so we thought we would reward their ingenuity by exposing them!

Why is this a Swift.net Fraud Scam?

The below Banco Central Do Brasil Blocked Funds Swift.net Fraud example contains actual live documents that were received by Secure Platform Funding on the 27th August 2016 from a broker, out of courtesy for those named in the transaction documents we have redacted some information so the below detailed analysis of the documents is not too embarrassing for those that were originally named.

Please view the documents below and then read the detailed analysis underneath them to understand how fake these "live" documents are:

Swift.net Fraud Example 1

BCB €1B Cash Funds File - Bank Statement (Account balance Summary) - Fraud 1a Example

Swift.net Fraud Example 2

BCB €1B Cash Funds File - RWA Letter & MT760 Verbiage - Fraud2 Example1
BCB €1B Cash Funds File - RWA Letter & MT760 Verbiage - Fraud 3a Example

Swift.net Fraud Deal Analysis

Warning 1: Swift.net is not the primary recognized platform for major rated banks to complete 1 Billion Dollar transactions! Swift.com is the internationally recognized and endorsed platform All Rated Banks utilize.

Warning 2: The above transaction is listed as a Swift.net transaction but the documents contain the Swift.com SWIFT CODE: BCBRBRDFORG. So what is a Swift.com Code doing on a Swift.net Transaction?

Warning 3: The words Swift.net are misspelt "Switf.net" not once but TWICE! Banks don't make mistakes, there are two Bank Officers that sign off every Bank Instrument transaction. Both Bank Officers are employed to check every aspect of the Bank Instrument text before it is released. It is impossible that two different bank officers failed to see "Switf.net" spelt wrongly in the Bank Instrument text TWICE!.

Warning 4: The fact that "Switf.net" is spelt wrong invalidates the entire Bank Instrument making it worthless! Maybe the instrument issuer spelt "Switf.net" wrong deliberately for that exact reason!

Warning 5: The Bank Instrument text says "as our Sovereign Bank only uses Switf.net" that is a blatant lie!

A) Below is confirmation from the Swift.com website that Banco Central Do Brasil has no less than 7 Different Swift Codes on Swift.com that the bank uses every day for thousands and thousands of transactions. It is completely untrue to state that the Banco Central Do Brasil "only uses Switf.net" when clear public evidence exists BOTH on Swift.com and Banco Central Do Brasils own web site that disproves this.

B) Banco Central Do Brasil isn't a little bank, it is the Central Bank of Brazil that controls the entire Brazilian economy! To say that the Central Bank of Brazil controlling billions of dollars of the Brazilian Economy doesn't work on any other bank transaction network apart from Swift.net is total lunacy!

Secure Platform Funding Banco Central Do Brazil

Swift.net Fraud Summary

The above Bank Instrument is as fake as a $3 Bill! Our strongest recommendation is that if you have a real client with with a real transaction make sure that transaction is completed on Swift.com, Euroclear or DTCC. Swift.net has too much fraud associated with it for any bank to want to complete a significant Bank Instrument transaction using that network.

Secure Platform Funding ONLY wants to complete genuine transactions, our Compliance Department screens out a ton of fraudulent deals every week. Fraudulent deals hurt clients, waste time, damage supplier relationships and cost money. We hate them and that's why we wrote this detailed article exposing the Swift.net Fraud that exists and encouraging our clients and brokers to stay well away from it. Be informed and be safe.

Bank Guarantee, Blocked Funds, Fraud, News, Scam, Standby Letter of Credit
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The Blocked Funds Email Scam

The Blocked Funds Email Scam is common in the industry on an all too regular basis!

The Blocked Funds email scam is when..... A customer "claims" to have a large amount of blocked funds in their account at their own bank and the customer wants to send a blocked funds confirmation email from banker to banker (from their Issuing Bank to the Receiving Bank) to confirm the blocked funds in his account and have the Receiving Bank accept the confirmation email as "real" and allocate his blocked funds email amount into a PPP (Private Placement Program) at the Receiving Bank.

Often preceding the Bank to Bank email or attached to the email is an "Official" Bank Letter confirming the Blocked funds on the Issuing Banks Letterhead.

Secure Platform Funding Stop Fraud

This is a complete Scam! But a very sophisticated Scam!

Here is how the Blocked Funds Email Scam Operates

1/ The Scammer simply Forges a Bank Letter or a Bank Statement showing he is Funds in his Issuing Banks account that can be blocked and that his bank is ready to confirm the Blocked Funds by Banker to Banker email.

2/ The Scammer then and spoofs an email address from the Issuing Bank and sends the Blocked Funds confirmation Banker to Banker. Email Spoofing is when you send an email pretending to be someone else. There are a million ways to Spoof a banks email address, it is commonly done for phising scams as illustrated in the fake NatWest Bank phising email scam below. Here are a few clues on how scammers Spoof Emails impersonating someone else.

The Danger of this scam is the Receiving Bank genuinely gets a real email from the Issuing Bank confirming they have blocked the clients funds (which don't exist) and approving the Receiving Bank to use the Blocked Funds in PPP! The biggest issue is email spoofing has become so sophisticated that often there is no way for the Receiving bank to know the email is not genuine or real and is actually sent from a scammer not from the Issuing Bank!

Scammers have also got so smart that the good ones now include a phone number on the bank email and bank letter using the same area code as the regular bank phone numbers but when you ring the scammers bank phone number it diverts to the scammers cellphone without the Receiving Bank Officers knowing.

Secure Platform Funding ScamAlert

Example of Natwest Bank Email Phising Scam Below

Natwest_Phising_Scam

Exposing the Fakes and the False

  1. No Bank will now accept Blocked Funds notifications by email, none! Anyone asking for Blocked Funds to be transmitted by email is never going to be successful.
  2. Banks are well aware Bank Emails can be Spoofed and Bank Phone calls can be Spoofed and because of this the only form of communication banks treat as authentic are Bank to Bank Swift transmissions than can be independently verified by Swift.com
  3. If a client can not confirm his Blocked Funds by Bank to Bank Swift Mt799 or Mt760 then there is a VERY HIGH likelihood the client is fraudulent.
  4. Secure Platform Funding operates a successful Blocked Funds Mt799 Program where the ONLY Blocked Funds Confirmation we accept is Bank to Bank Swift Mt799 or Mt760.

Secure Platform Funding is solely interested in doing Real Deals with Real Clients who want Real Results and can send Blocked Funds Confirmations by Real Swift, nothing else is safe or acceptable.

Bank Guarantee, BG, Standby Letter of Credit, SBLC, PPP, MTN, LTN, Buy, Fund, Monetize, Sell, Discount, Managed BG Program
IMPORTANT: Discover the Private Placement Program which has earned  Investors an Average of 60% per Month Return!
CLICK HERE
  • 100% Capital Protected
  • $100K Euro Minimum Deposit
  • Successfully Operating since 2008
  • Guaranteed 10% Return per Month
  • Regulated European Fund
  • Withdraw All Funds with 14 Days Notice
Bank Guarantee, Blocked Funds, Fraud, Scam, Standby Letter of Credit
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Banco Central do Brasil / Central Bank of Brazil Monetization

Our Compliance Department has this week Approved a specific customized Package for Banco Central do Brasil / Central Bank of Brazil & Banco do Brasil / Bank of Brazil Monetization of Bank Guarantees (BG) and Standby Letters of Credit (SBLC). This Special Monetization Program will monetize 500M (Five Hundred Million) USD or Euro, Leased or Owned Bank Guarantees (BG) and Standby Letters of Credit (SBLC) with Non Recourse Funding.

Banco Central Do Brasil
Banco Do Brasil
  • Banco Central do Brasil / Central Bank of Brazil was founded in 1964 and is the principal monetary authority in Brazil. It received this authority when it was founded by three different institutions: the Bureau of Currency and Credit (SUMOC), the Bank of Brazil (BB), and the National Treasury.
  • Banco do Brasil / Bank of Brazil was founded in 1808 and is the largest Latin Bank by Assets and the oldest active bank in Brazil. Banco do Brasil / Bank of Brazil is controlled by the Brazilian government, has 111,547 employees, has branches in over 20 countries and total assets of over half a Trillion dollars.
Brazil

The reality is Brazil is in the worst Recession since the 1930s, the Brazil economy contracted 3.8% in 2015 and shrank 5.4% in the first quarter of 2016 alone! The economic recessional coupled with Brazils Political turmoil has NOT made Banco Central do Brasil / Central Bank of Brazil or Banco do Brasil / Bank of Brazil Monetization of Bank Guarantees (BG) and Standby Letters of Credit (SBLC) very attractive.

However despite all of Brazils challenges, and the fact that many of the issuers of Banco Central do Brasil / Central Bank of Brazil and Banco do Brasil / Bank of Brazil Bank Guarantees (BG) and Standby Letters of Credit (SBLC) require a significant payment for the instrument within 2 days of its delivery by SWIFT MT760, we have worked hard and have a real authentic approved Banco Central do Brasil / Central Bank of Brazil and Banco do Brasil / Bank of Brazil Monetization solution!

Delivery of the 500M (Five Hundred Million) USD or Euro Bank Guarantees (BG) or Standby Letters of Credit (SBLC) is to be completed on the Bank Swift.com Network. The issuing bank sends the Monetizer a MT799, The Monetizer replies to the MT799 with a MT799 Payment Guarantee. The issuing bank being either: Banco Central do Brasil / Central Bank of Brazil or Banco do Brasil / Bank of Brazil then delivers the MT760 on the Swift.com network to the Monetizer and the Monetizer pays for the BG or SBLC with a 50% Non Recourse LTV in 3 payments as follows:

  • 1.4 Million Euro within 2 days of receipt and verification of the MT760
  • 20% 10 days after MT760 delivery less 1.4 Million Euro already paid.
  • 30% 20 days after MT760 delivery

Special Note: This Banco Central do Brasil / Central Bank of Brazil or Banco do Brasil / Bank of BrazilMonetization Program only accepts 500M (Five Hundred Million) USD or Euro Bank Guarantees (BG) or Standby Letters of Credit (SBLC) only.

Monetization Terms and Structure and Non Negotiable.

To commence Monetizing a Banco Central do Brasil / Central Bank of Brazil or Banco do Brasil / Bank of Brazil Bank Guarantee (BG) or Standby Letter of Credit (SBLC) please complete our Monetization Application here and email it to us.

Bank Guarantee, BG, Standby Letter of Credit, SBLC, PPP, MTN, LTN, Buy, Fund, Monetize, Sell, Discount, Managed BG Program
IMPORTANT: Discover the Private Placement Program which has earned  Investors an Average of 60% per Month Return!
CLICK HERE
  • 100% Capital Protected
  • $100K Euro Minimum Deposit
  • Successfully Operating since 2008
  • Guaranteed 10% Return per Month
  • Regulated European Fund
  • Withdraw All Funds with 14 Days Notice
Bank Guarantee, Monetization, Standby Letter of Credit
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