Commercial Crime Bureau?s Report Exposes Prime Bank Instrument Frauds

A report published by the Commercial Crime Bureau has exposed a dramatic increase in the number of reports received concerning with frauds connected with investment schemes involving the buying and selling of "Prime Bank Instruments." Fraudsters and less than professional investment or loan brokers worldwide have offered the Prime Bank Instruments (PBI), known as Standby Letters of Credit (SLC), Prime Bank Notes (PBN) and Prime Bank Guarantees (PBG). Some enormous losses have occurred, including a number involving major organizations, such as the Salvation Army in London and major law firms?[more]