Identify; Verify; Document; Restrict — these are the four key steps. Insist on an MT760 + confirmation from a reputable bank. Draft the SBLC text precisely and with a focus on documentation (avoid ambiguous phrases). Use escrow and tripartite agreements in large transactions. In case of a suspicious payment, take immediate legal and inter-bank action...Continue Reading

Issuance of a Fake SBLC / or Fake SWIFT Message (Fake MT760) Criminals or intermediaries create a counterfeit version of an SBLC and use it to deceive the seller. Issuance of an SBLC from a Low-Credit or ‘Pseudo-Bank’ Lacking Payment Ability A weak or non-credible bank appears to provide a guarantee but in practice lacks...Continue Reading