SLC type 3034

EnriqueFresen · Post by **EnriqueFresen** » Wed Feb 28, 2001 12:00 am

Can someone define this reference for me?. Thank you for your answers.

AbdulkaderBazara · Post by **AbdulkaderBazara** » Mon Mar 05, 2001 12:00 am

This reference is shown as a red flag in ICC Commercial Crime Services, Special Report, ICC Publication 559 (Prime Bank Instrument Frauds II). On page 40 the following is given:

ICC Format 3034 (london short Form) / ICC Format 3039 (london long Form)

These formats are not issued by the ICC and are not known or used in banking transactions.

Therefore, I believe you you should be worried about the origin / authenticity of the SLC which makes reference to 3034 and exercise all required due diligence when handling such transactions.

T.O.Lee · Post by **T.O.Lee** » Sat May 05, 2001 1:00 am

As Mr. AbdulKaderB has already pointed out above, this is a vintage version of fraud document. It should have been placed in a "Museum of International Trade Frauds".

In Hong Kong, we have an adage about frauds: "As far as a trick is still workable, never mind whether it is old or new".

I have close working relation with the ICC CCB for prevention of trade frauds.

Last year I received a long distance call from Florida to enquire whether he should purchase a standby LC offered from a promotor at 25% off its face value. Unfortunately SBLC is not like securities or bonds, and it cannot be traded in the market.

I am from www.tolee.com

[edited 5/22/01 4:02:55 PM]
[edited 10/27/01 9:02:15 PM]