Only two types of fraudulent payments exist, Fake Bank Alert that is commonly done by text and phone number and Flash Funds Payment that us done with MT103 Swift Payment System Flash Enabled.

What’s The Difference Between Flash Funds And Fake Bank Alert?

The difference between Fake Bank Alert and Flash Funds is clear, it is not something anyone can be confused of.

Break Down Of Flash Funds And Fake Bank Alert Difference

Fake Bank Alert: this means, it will be just mere fake credit alert and it won’t reflect on bank account available balance, it will not be anywhere near authentic enough to be convincing because for any scammer who wants to do fake bank alert to someone they are targeting as their victim, they will need to obtain the following informations;

• Bank account details
• Phone number (the correct one linked to the receiver’s bank account which the receiver use to receive bank alerts)
• Email address (the correct email linked to receiver’s bank account)

What Does The Scammer Need Above Information For?

The scammer will need the above informations to use them and send the target the fake bank credit alert using fake bank alert platform, now take note;

Even if the scammer is able to obtain the above details, what about the current figure that is in the target’s bank account as available balance? That’s where they will easily be caught and mission will fail instantly.

In a clear explanation, you have one million pounds sterling (£1,000,000) in your bank account available balance and a scammer that wants to defraud you with fake bank alert sends you fake alert and you are seeing one hundred thousand as your bank available balance would you foolishly fall for such cheap scam? Ofcourse you will not,

It will raise suspicion that will lead to thorough further check because the numbers don’t add up, learn more on how to detect fake bank alert here and stay informed.

MT103 Swift Payment System Flash Enabled

This means, it is not mere fake bank alert because for any scammer to do flash funds transaction they will need just the receiver’s basic bank details that is required for normal bank transfers (to receive payment).

Kindly take note, they don’t need any of the following details!

• Receiver’s phone number
• Receiver’s email address
• Knowledge of receiver’s current balance

MT103 Swift Payment System With Flash Enabled will handle the rest, just receiver’s bank account details for receiving of payment is required, the cyber criminal will send exact amount agreed on wether is physical goods purchase or digital asset such as cryptocurrency, the payment will reflect on receiver’s bank account available balance and it will be updated to new balance,

There will be no suspicion until business or transaction with the party is closed and they moved on, the victim will face bank problems for fraudulent activity accusation.

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