DCW Monthly: October 2026
This month’s content follows a standby LC past issuance and asks a practical question: once the instrument is out
2 min read
After US federal government agencies warned that “prime bank” instruments lacked legitimate use in the mid-1990s and the US Securities and Exchange Commission (SEC) bluntly stated that all “prime bank” investment programs are fraudulent, scams of this nature have dropped off precipitously over the last decade. From time to time however, unscrupulous individuals will dust off past schemes and repackage them in an attempt to dupe investors.
Read next
DCW Scam Survey
Indian Officials Attach Further Assets in Fraud Case
As investigations by India’s Directorate of Enforcement (ED) into an alleged INR 1,438 crore (USD 156 million) money
DCW Scam Survey
Bangladesh Officials Bring in Jailed Businessman for Interrogation
Further to previous DCW reporting, an imprisoned Bangladesh businessman and former lawmaker was brought to Bangladesh’s Anti-Corruption Commission
DCW Scam Survey
Investigators Secure Partial Recovery for Scammed Indian Banks
Two Indian banks which lost funds nearly a decade ago from fraudulently obtained letters of credit and non-payment of
DCW Scam Survey
UK Company behind Advance Fee Scam Shut Down
A company which received USD 231,000 from a client but failed to deliver on its promise to arrange a