If You Fall for It, You Deserve to Be Scammed
We receive far too many inquiries from people looking for Standby Letters of Credit (SLOCs) or Proof of Funds (POF) to participate in these fake trade programs. These people aren’t just walking into a scam — they’re lining up to get robbed.
Let’s be crystal clear:
Anything Related to PPP, Bullet Trade Programs, Ping Trading, or Managed Buy/Sell “Opportunities” Is a Scam. Period.
No exceptions. No hidden billion-dollar banking desks. No “exclusive” trading platforms. Just a predatory scheme designed to steal your identity or misappropriate your collateral before you even realize what happened.
How These Scams Really Work
Identity Theft Disguised as a “Simple CIS”
The scammer claims all they need is a “short CIS” (Client Information Sheet) with:
- Passport copy
- Proof of Funds (POF)
- Bank account details
They’ll tell you that your funds aren’t at risk — they just need to “ping” your account or get an administrative block to verify your balance. Sounds harmless, right? Wrong.
Here’s what actually happens:
- Your passport and banking info get sold on the dark web.
- Fraudsters use your details to apply for loans, open fraudulent accounts, or even launder money.
- If they gain access to your bank account, they drain it or use it as a mule account for illicit transactions.
This is why “Ping Trade Programs” exist — to bait people into handing over their banking credentials under the illusion that no money will leave their account.
Collateral Transfer Fraud — You’ll Lose Everything
For those trying to use an SBLC (Standby Letter of Credit), the scam is even worse. Here’s how they misappropriate your collateral:
- You issue an SBLC to “enter the program.”
- They claim it will be blocked for trade — but in reality, they use it to get a line of credit with another bank (also a victim).
- They cash out the credit line and vanish.
- At maturity, your SBLC is triggered to repay their default.
- By the time you realize what happened, you’re left holding the bag.
This is why these frauds always push 90-day to 365-day terms — it gives them enough time to execute the scam before you figure it out.
Common Red Flags of a Bullet Trade Scam
- “10-day bullet trade pays 200%” — No real trade produces these returns.
- “Short, simple CIS required — no full KYC!” — They don’t want scrutiny, just your personal info.
- “Sign contracts inside the bank!” — Banks never issue trade contracts.
- “Funds stay in your account — only a ping required!” — That’s all they need for identity theft.
- “No Russian clients/banks!” — Trying to sound legitimate, but it’s pure fiction.
FAQ
Is there any legitimate bullet trade program?
No. These programs do not exist. Every single one is a scam.
What if the deal is inside a major bank?
Banks don’t issue trade contracts. The moment someone tells you otherwise, they’re lying.
Can I use an SBLC to participate?
No. The second you issue an SBLC, they’ll use it to secure a loan, steal the money, and disappear. You’ll be forced to repay the debt when the SBLC matures.
What if they only need to ‘ping’ my account?
They’re phishing for your details. Once they have them, expect fraud on your account.
Who actually makes money in these programs?
The scammers. You? Not a chance.
If you even considered joining one of these schemes, wake up. The only thing you’ll be trading is your money for a lesson in stupidity.
