Only four months after warning borrowers and investors to steer clear of international financial deals citing a non-existent “ICC 4081” document, the ICC’s (International Chamber of Commerce) 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 phoney document is said to “reinsure” deals where there is doubt about the legitimacy of the earlier ICC 4081 letter of insurance guarantee.
But the ICC’s Commercial Crime Bureau (CCB) 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,” says 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,” adds Merrett. In the 4081 fraud exposed this June, the name of the ICC 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 the 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. The CCB says those that fall into the trap are unlikely to ever get their loan. If you encounter any 4081 or 4082 documents naming Lloyd’, contact Andy Wragg, manager of Lloyd’s regulatory liaison department (Tel: (+44) (0)20 7327 6387).