Proof of Funds Requirement

Principle/Signatory/Owner of the Instrument MUST PROVIDE two items, or they are causing tremendous damage to their own reputations, and drawing the attention of law enforcement, the U.S. Treasury and Interpol.

A. Tear Sheet or Bank Statement: bank protocol is specific, the POF (proof of funds) must be “…. valid, authentic and verifiable…” this MUST be in the CIS/DOA, no exceptions, any file that does not contain this will be considered under the http://fincen.gov as “suspicious activity” and thus reported worldwide, with ALL BANKS sharing the data with each other

B. BCL Letter and Authorization to Verify: these are procedural, protocol tools, used by the banks to “….authenticate and verify” and is NOT a substitute for A (above) the BCL Must Contain Two Bank Signatures but also those two bank officers’:
1. phone number
2. eMail address at a legitimate bank url for instance: John.D@LegitimateBank.com
3. badge number or employee id
4. name and title

Each file must contain BOTH, or the file is suspicious.

Compliance officers, doing their Due Diligence will look for evidence of photoshopped documents, misspelled words, or any evidence whatsoever that the POF was crafted or tampered with.  They also look for commonly “internet shopped” Instruments, and fake MT760s from such banks as Deutsche Bank, Banco de Brazilia, HSBC Hong Kong, or other major banks. Often these Bank Drafts, copies of SWIFT transmissions, or SBLCs from these banks get around the Internet, and they are already known to the Compliance Officers before the Signatory even attempts to pass it off as real. Banks know what is going on, are required by law to investigate into the source of funds, and have sophisticated software to assist them in the detection of fakes.

Brokers, Intermediaries, CEOs, Principles, Signatories, Trustees and Applicants must be advised that submitting fraudulent paperwork, photoshopped documents, or any materials which are not “valid authentic and verifiable” are considered prima facie “suspicious transactions” and NO FILE will be accepted by ANY Bank or Platform which does not contain both a BCL and Tear Sheet or Bank Statement.

Instruments are “Cash Backed” by description, in fact and law. An SBLC is considered “cash backed” when a Client pays cash for it. A Client/Signatory cannot purchase SBLCs or Bank Guarantees “on credit”. Those who attempt to purchase on Credit are considered “fraudulent” or in the very least fall into the category of “suspicious activity” and those who attempt to purchase SBLCs/BGs without valid authentic verifiable proof of funds are damaging their reputations and will not succeed. They are wasting their time, the banks time, and their employees’ time.

Clients who have long winded explanations about why they cannot provide valid authentic verifiable Proof of Funds (in cash) such as:

“We have special laws in my country…”
“We don’t show proof of funds unless it is bank to bank”
“I have my own procedures for purchasing SBLC/BG’s”
“We don’t see what the problem is, we do it this way all the time”
“I’ve been burned before by tricksters and fraudsters, so I am leery of putting my information out there.”

The above statements are highly suspect, draw the most scrutiny, and are NOT valid exceptions to providing a tear sheet or bank statement. As a matter of fact, these excuses cause Platforms and Banks to doubt the sincerity, truthfulness, integrity, and intent of the Client/Signatory/Purchaser. They are a red flag to any legitimate Provider, and cause alarm bells to go off before the explanation leaves the lips of the communicant! These comments are more common than the applicant might think: they are not the only ones offering these excuses, the banks hear this about 5,000 times per day, and refer about 3,000 of these files to Interpol daily! Thus, attempting to procure, lease or negotiate for an SBLC/BG without proper POF is self destructive, and self sabotaging.

Simply put: THERE ARE NO EXCEPTIONS! SBLCs/BGs are “cash backed” plain and simple, and unless the Client has verifiable Proof of Funds that is authentic, then the very submission of a DOA/CIS without it, is suspicious, and proves criminal intent.

We would like to add, that these transactions must NOT become time wasters for anyone in the process. Screening out the junk from the real players takes experience.  Some CEOs think their tactics are original and unique, instead they’ve been seen by Compliance Officers hundreds of times, and are already addressed in Security Bulletins ~ compliance officers and law enforcement agencies are well versed in the various excuses, tactics and strategies.  If you are a candidate or you represent a candidate that wants to do non recourse or Platform Funding, then do NOT submit a bad file, which will only serve to harm your reputation.  If you have a solid, and verifiable proof of funds, then things can move quickly, and the file will get approved, and you will get your project funded.  There is no “gray area” there are no special circumstances, there are no exceptions.  If you follow proper procedure, if you can take good orderly direction and follow protocol, the transaction will be smooth, effortless, and successful!

Remember:  The MIRACLE is ALWAYS bigger than our mere human expectations.  Play Bigger in 2018!