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.
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.
Example of Natwest Bank Email Phising Scam Below
Exposing the Fakes and the False
- 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.
- 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
- 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.
- 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.
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