Fraud & Verification check0 / 1 answered · 0 correct
Check 1
What is the correct MyGreed response to that scenario?
Fraud Case Practice
Apply the MyGreed method to a realistic high-risk proposal.
Scenario
A broker says a provider will “lease” a USD100m SBLC for 6%, your bank must send an MT799 BPU in 24 hours, the MT760 will then be “monetised at 80%,” and a private trade platform will pay 20% monthly.
What is not automatically wrong
A bank may issue an SBLC; a negotiated payment undertaking can exist; third-party finance can exist. Those concepts are real.
What requires serious verification
The issuing bank relationship, BPU wording, provider authority, advance fee, fixed LTV, monetiser identity, extraordinary return and supposed trading platform.
Safe conclusion
The wording alone cannot prove fraud, but the combination resembles known high-risk/prime-bank patterns and should not proceed without independent banks, lawyers and regulated professionals verifying each element.
Source / standards noteA warning sign is not proof of fraud. Verify independently and obtain professional advice before acting on a material transaction.
Remember thisMyGreed does not label from buzzwords alone; it identifies which claims need evidence and which patterns are documented fraud risks.
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