for the scammers requesting 103/23 or...
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RED

Quezon City, Philippines

#32 Jul 9, 2013
how about ICBPO? I heard Hong Kong banks no longer issue ICBPO? Is this true Mythbuster?
cemara

Jakarta, Indonesia

#37 Dec 4, 2013
BS Spotter wrote:
Please...please....please....l et me answer this one.
Quote:
Thank you for the detailed explanation. Can you tell us why it still comes or printed in Compliance packages from Sellers?
End of quote.
Answer:
Because the "seller" is a joker-broker misrepresenting itself as a "seller" and in reality it has nothing and its hunting for someone with money so it can approach this alleged investor and offer its services and later, the joker will call itself "mandate" and will start to peddle "wanted ads" all over the internet and the circle will continue to go on and on and on...
hihihi....leave it..... your looking funny..
cemara

Jakarta, Indonesia

#38 Dec 4, 2013
RED wrote:
how about ICBPO? I heard Hong Kong banks no longer issue ICBPO? Is this true Mythbuster?
use space hehehe
kalbania

Athens, Greece

#40 Dec 18, 2013
Hi,
I'm a bank employee and recently somebody has, which presents himself as a broer, is interested to transfer a title, or money (is not clear yet) through the Lombard Merchant Bank. I googled it and it seems a like that is specialized in such transaction. I still can't understand where is the catch. My potential customers meanwhile aren't being very clear to us. Also this company has alerady signed the agreement "Fidejussione" with the abovementioned bank and another third party (which I suppose is the company that has the money/title) for a credit line approx. 10MIO EUR.
Can you help me to prevent any fraud possibility and how, because for the moment it doesn't seem so clear.
BR
kalbania

Athens, Greece

#41 Dec 19, 2013
Hi,

I'm a bank employee and recently somebody has, which presents himself as a broer, is interested to transfer a title, or money (is not clear yet) through the Lombard Merchant Bank. I googled it and it seems a like that is specialized in such transaction. I still can't understand where is the catch. My potential customers meanwhile aren't being very clear to us. Also this company has alerady signed the agreement "Fidejussione" with the abovementioned bank and another third party (which I suppose is the company that has the money/title) for a credit line approx. 10MIO EUR.
Can you help me to prevent any fraud possibility and how, because for the moment it doesn't seem so clear.
IDontWantToLoseM oney

Johannesburg, South Africa

#44 Jul 9, 2014
How do you best avoid being scammed out of your money. I ask this because some businesses prefer cash (TT or MT103) because they have experienced credit fraud (fake LC) or they find the LC process tedious. And some people are just out there to defraud people.
MT 103-23 MYTHBUSTER wrote:
A standard SWIFT MT103 (Single Customer Credit Transfer) is a general use message of a TT payment instruction which is an unconditional payment.
..
I would like to confirm that there is no MT103/23 Conditional, but MT103 (usually with Field 23B - bank operation - mandatory codeword CRED), Field 23E - Instruction Code - is where the remitting bank (at the request of the remitter) puts in instructions code instructing the beneficiary's bank how to effect the payment.
MT 103 in Field 23E specifies an instruction which must contain barely one of the following SWIFT - STP (Straight Through Processing) Optional/Conditional just four digits SWIFT -STP accepted codeword:
SDVA: Payment must be executed with same day value to the beneficiary.
INTC: The payment is an intra-company payment, i.e., a payment between two companies belonging to the same group.
REPA: Payment has a related e-Payments reference.
CORT Payment is made in settlement of a trade, e.g., foreign exchange deal, securities transaction.
BONL: Payment is to be made to the beneficiary customer only.
HOLD: Beneficiary customer/claimant will call; pay upon identification.
CHQB: Pay beneficiary customer only by cheque. The optional account number line in field 59 must not be used.
PHOB: Please advise/contact beneficiary/claimant by phone.
TELB: Please advise/contact beneficiary/claimant by the most efficient means of telecommunication.
PHON: Please advise account with institution by phone.
TELE: Please advise account with institution by the most efficient means of telecommunication.
PHOI: Please advise the intermediary institution by phone.
TELI: Please advise the intermediary institution by the most efficient means of telecommunication
. A so called "MT103/23 conditional payment" is a format which would not be recognised by banks.
You cannot send an MT103 with a condition that the beneficiary's bank must receive, say presentation evidencing of certain advisable documents detailed in Field 23E - from the beneficiary before crediting his account.
Such any other message (except merely SWIFT - STP four digits codes) stated by Field 23E will be rejected by the remitting bank, and if sent in Field 23 (which allows for only a few standard codes described above) will be rejected and ignored by the beneficiary's bank who will credit the beneficiary's account anyway.
It must be understood that other such messages are not governed by any ICC or SWIFT - STP provisions, and the manual intervention required under the "CONDITIONAL PAYMENT" flag would affect the "Straight Through Processing" (STP) function of the SWIFT MT103 message.
It is unlikely that the - SWIFT payment department - of a bank would wish to involve itself in an area for which it is not qualified, in determining the integrity of the underlying documents, and thereby lift the condition to pay the recipient.
Now for those who request a MT 103/23 , send it to me and see if it works! stop the madness already!

Since: Jul 11

Location hidden

#45 Jul 9, 2014
IDontWantToLoseMoney wrote:
How do you best avoid being scammed out of your money. I ask this because some businesses prefer cash (TT or MT103) because they have experienced credit fraud (fake LC) or they find the LC process tedious. And some people are just out there to defraud people.
<quoted text>
The reasons are many. Here are some.

1) Thieves like to take advantage of the ignorance of others. Especially if the ignorants have money.

2) Thieves know that "greed" over powers common sense.

3) Thieves know that brokers who are in need of money to pay their bills, will do anything to secure financial independence. Even borrow money from family members, so a deal can successfully close.

4) Thieves live in areas or countries where $1000 dollars or 1000 euros will feed their family for a year and have spare change to buy drugs.

I can go on. But, I think I made my point.
Fmspecs

Canoga Park, CA

#47 Oct 8, 2014
Just ask your bank for a tracer

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