Actually producing transferable letter of credit, you are consenting to the fact that fraudsters manage your money. Once your bank has sent a letter of credit bank where the company operated one-day pseudo-traders, it immediately sends the money somewhere else to pay for fake goods delivery. Letter of Credit is transferred to one of the offshore banks, and cashed – goodbye! scam the Canaries, and you are in debt. With the help of forged documents. Here, too, it's simple.
The fact is that nobody is perfect and the banks are not immune from mistakes of their employees. Or bank employees may be in cahoots with the fraudsters. scam produce a set of false documents, which certify that everything is in order: a vessel chartered, insured, uploaded and sent to the destination port. In reality, the ship is a long time ago somewhere rust or never existed. Employees of the bank shall adopt and certify the bogus documents, thereby opening the scammers access to your money. Here is what writes to the bank about the journal: "Upon receipt of performing Bank details of credit crooks placing the named bank forged documents on the implementation of the commitments forged passport in the name of a person acting on behalf of the recipient of the letter of credit, and where necessary, and a fake power of attorney the right to perform appropriate actions. In cases where the letter of credit provides for the participation in the reception and dispatch of the goods representative of the buyer, are used false passport and the letter addressed to an imaginary representative, as well as a fake letter from the buyer confirming the fact of sending (receiving) the goods and permit the disclosure of credit.