CCB
keeps borrowers a step ahead as the 4081 scam takes a new turn
 |
| Check suspicious documents
before closing the deal, warns CCB |
London,
29 October 2002 –
Only four months after warning borrowers and investors to steer clear of international
financial deals citing a non-existent
7;ICC 4081” document, ICC’s
crime-fighting arm has discovered a fresh twist to the scam. Fraudsters have
cooked up a new document to insure against losses caused by the original fake.
Dubbed 4082, the new phony
document is said to ‘reinsure’ deals where there is doubt about the
legitimacy of the earlier ICC 4081 Letter of Insurance Guarantee.
But ICC’s Commercial
Crime Bureau insists both documents are bogus.
The bureau is advising people
to reject any financial proposition that refers to 4081 or 4082.
“The 4081/4082 forms
offer absolutely no guarantee,” said CCB Assistant Director Jon Merrett.
“I can categorically assure all interested parties that any documents bearing
the heading 4081 or 4082 are totally fictitious, despite any small changes that
have been made to their wording.”
“I believe this is
the first time a new fictitious document has ever been created simply to overcome
potential objections to an earlier one that has been exposed,” said Mr
Merrett.
In the 4081 fraud exposed
this June, the good name of the International Chamber of Commerce was used as
a stamp of authority on fake financial documents designed to con investors out
of thousands of dollars in advance fees.
Some letters in the new
scam have been found featuring the name of Lloyd’s insurance market.
But Lloyd’s say the
suspect documents are completely unrelated to any recognised Lloyd’s form
or wording.
According to CCB, people
seeking quick access to large sums of money are at risk. Someone looking for
extra capital to complete a business deal, for example, could be duped into
handing over an advance fee to guarantee a loan – using form 4081, and
another sum to protect against any losses – using form 4082.
CCB says those that fall
into the trap are unlikely to ever get their loan.
Based in London, ICC’s
Commercial Crime Bureau provides up-to-the-minute advice on criminal
methods and how to counter them. If you are uncertain about any financial document,
CCB invites you to forward it to its checking service.
If you encounter any 4081
or 4082 documents naming Lloyd’s, please contact Andy Wragg, Manager of
Lloyd’s Regulatory Liaison Department (Tel: +44 20 7327 6387, Fax: +44
20 7327 5988) or CCB.
The CCB annual conference
on “Fraud and Money Laundering Prevention for the Financial Sector”
is being held at ICC UK, 14/15 Belgrave Square, London SW1X 8PS on 29th and
30th October 2002. Details can be obtained from CCB.