MT760/MT799 Fraud

MT760/MT799 frauds are sophisticated, leveraging forged SWIFT messages to mimic legitimate banking assurances. Key obstacles included:

1. Document Forgery: The MT760 and MT799 appeared authentic, complete with cloned bank logos and reference numbers.

2. Cross-Border Complexity: The supplier operated through shell companies in Singapore and Panama.

3. Rapid Fund Dispersal: The €1.2 million was split into crypto and offshore accounts within hours.

4. Bank Liability Denial: The Swiss bank denied issuing the guarantee, leaving Clara legally exposed.

The Solution: Amdark’s 5-Phase Recovery Strategy

1. Forensic Document Analysis

   • Amdark’s financial fraud experts collaborated with SWIFT-certified auditors to confirm the MT760/MT799 messages were fraudulent.

   • Identified discrepancies in the SWIFT codes and bank authentication protocols.

2. Blockchain & Banking Tracing

   • Traced the €1.2 million through a maze of crypto exchanges (Binance, Kraken) and shell company accounts in Panama.

   • Identified a Malta-based crypto wallet holding €800,000 of the stolen funds.

3. Legal Action & Injunctions

   • Filed urgent injunctions in Malta and Singapore to freeze the identified accounts.

   • Partnered with Europol’s Cybercrime Unit to escalate the case as transnational fraud.

4. Bank Collaboration

   • Leveraged Amdark’s relationships with SWIFT-member banks to pressure the Swiss bank into aiding the investigation.

   • Uncovered collusion between the supplier and a rogue bank employee who leaked SWIFT templates.

5. Recovery & Repatriation

   • Negotiated with the Malta Financial Services Authority (MFSA) to reclaim €800,000.

   • Recovered an additional €200,000 via a confidential settlement with the supplier’s shell company.

The Result

• €1 Million Recovered: 83% of Clara’s losses retrieved within 11 months.

• Fraud Syndicate Disrupted: Europol arrested three individuals linked to the scam; the rogue bank employee faced criminal charges.

• Industry-Wide Alert: Amdark worked with SWIFT to issue a fraud advisory, preventing similar scams.

Client Testimonial
“Amdark’s team was tenacious and resourceful. They not only recovered our funds but exposed a global fraud ring. Their expertise in trade finance scams is unmatched.”
— Clara Bennett

Why Amdark Limited Excels in MT760/MT799 Fraud Cases

1. SWIFT Protocol Mastery: Deep understanding of SWIFT message authentication and banking compliance.

2. Global Network: Partnerships with Europol, Interpol, and financial regulators in 20+ jurisdictions.

3. Crypto-Fiat Bridge Tracking: Tools to trace funds moving between traditional banking and cryptocurrency systems.

4. Proactive Prevention: Publishes guidelines for businesses to verify MT760/MT799 legitimacy.

Conclusion
MT760/MT799 frauds prey on trust in institutional banking systems. Amdark Limited combines forensic rigor, legal muscle, and global collaboration to dismantle these schemes and recover stolen assets. Clara’s case exemplifies how expertise and persistence can restore faith in international trade.

If you’ve been targeted by MT760/MT799 or other trade finance fraud, contact Amdark Limited. We turn complex challenges into recoveries.

Disclaimer: Client names and details are anonymized for privacy. Results depend on case specifics and jurisdictional cooperation.

This case study highlights Amdark’s ability to navigate the intricate world of trade finance fraud, ensuring clients reclaim their assets and scammers face justice.