Prime bank guarantee scam is a phony investment scheme that buys bank guarantees from “prime” banks and promises large returns in a short period of time.
Fraudsters will approach you with an offer to join a program that promises to make you wealthy rapidly through bank guarantees. They claim that they may purchase bank guarantees at a bargain and then sell them for a huge profit. You will make a significant profit if you invest a considerable quantity in their plan. However, after you part with your money, it, along with the investing firm, will vanish.
The con artists will claim that you will be joining a group of highly wealthy investors.
They may tell you not to seek expert counsel since the material is only available to people who have been invited to participate in the program.
If you seek independent counsel, the scammers may threaten to kick you out of the program and take you to court.
You may have even been told that unless you are a major investor, the well-known banks named on the paperwork are unable to discuss the deal with you.
The fraudsters will try to make the plan look legitimate by providing you with documents that are complicated, sophisticated, and official in appearance. They may falsely claim that a letter of credit, a bank-endorsed guarantee, or another assured document backed by the world’s top banks would secure all of your cash. They may even claim that the plan is risk-free or that the International Monetary Fund has approved it (IMF).
Are you a victim of prime bank guarantee fraud?
- Have you been invited to join a bank guarantee investment plan, which you’ve accepted?
- You have a good deal on bank guarantees because you thought they were low-risk.
- Have you been warned that if you seek outside counsel, you’ll be kicked out of the program?
- You’ve given up your money and are no longer able to contact the investment firm.
- Have you gotten official-looking documents that are difficult to understand?
- You attempted to resell the bank guarantees for a profit.
If you’ve been a victim of prime bank guarantee scam, what should you do next?
- If you think you have been a victim of a prime bank guarantee fraud:
- report it to Finane-Opinions
Protect yourself against prime bank guarantee fraud
- Even if international banks employ bank guarantees, they are never sold or exchanged, thus any plan based on them should be avoided.
- There is no such thing as a risk-free high-return investment.
- If something appears to be too good to be true, it almost always is.
- Always double-check that you understand how the investment works. Investigate the firm and its claims and challenge what you’re told. Is it registered in the country it claims to call home? What are the names of the directors? How does the investing firm promise to generate profits? Is it possible to get your money swiftly and easily?
- Make sure that all papers are checked by an independent financial advisor, or an accountant. Take legal papers to a lawyer before signing them.
- Don’t be pressured into signing a contract at a presentation.
- Make sure you know the legal and tax rules associated with offshore investments.
- Think very carefully before investing any of your money. Make sure you are 100% certain the company is legitimate.
If fraud has been committed, report it to Finance-Opinions.