SWIFT MT Messages & Fraud Schemes Flow Map

See how MT messages (199/799/760/103 etc.) flow in real transactions and fraud schemes. Hover for explanations.

SWIFT Messages (Info)
⚠️ Fraud paths
✅ Legitimate flows
Banks / Actors

Scheme Overview (click to view)

Scheme Description
All FlowsComplete overview of legitimate flows and common fraud patterns
Forged SBLC / Fake MT760Fraudsters create fake Standby Letters of Credit (SBLC) using forged MT760 messages
MT199 as POF (Risky)Misuse of MT199 free-format messages as fraudulent Proof of Funds
Discounting / Assignment ScamScams involving assignment or discounting of financial instruments
MT103 Payment FlowLegitimate payment flow using MT103 customer transfer messages

Key SWIFT MT Messages Comparison

MT Code Message Type Purpose Guarantee / Binding Typical Use Case Risks
MT199 Free Format Message General information, proof of funds, communication ❌ None (just a message) Buyer’s bank may issue as "POF" (Proof of Funds) High – can be forged easily, no money movement
MT103 Single Customer Credit Transfer International wire payment instruction ✅ Yes (funds transferred if genuine) Settlement of invoices, trade payments, cross-border transfers Medium – irreversible once sent, fake MT103 screenshots common
MT202 General Financial Institution Transfer Bank-to-bank settlement of MT103 payments ✅ Yes (bank settlement between correspondents) Interbank transfers Medium – risk of delays, compliance holds
MT700 Documentary Letter of Credit Opening of LC by issuing bank ✅ Strong (bank guarantees payment if documents comply) Secure trade finance, seller ships against LC Low – but risk if documents rejected
MT760 Standby Letter of Credit (SBLC) / Bank Guarantee Guarantees payment obligation ✅ Strong (bank guarantees payment on demand) Project finance, large commodity deals Low – but can be misused in fraud schemes
MT799 Free Format Pre-advice Pre-advice or bank-to-bank communication ❌ None (not binding) “Pre-advice” before real MT760/700 High – often misused in scams
MT940 Customer Statement Message Bank account statement (balances, transactions) ✅ True reflection of account Daily/periodic statement delivery Low – safe, but can be forged if not SWIFT-verified
Disclaimer: All flows are **illustrative only**. Example MT messages shown are **NOT actual SWIFT traffic**. Always confirm with your bank.