Letter of Credit (LC) Forgery Scam

How Letter of Credit (LC) Forgery Scam Works

Overview: The Letter of Credit (LC) Forgery Scam involves fraudsters fabricating or altering trade finance documents to tap into credit lines, leading to big losses for Indian exporters, importers, and banks. This scheme is dangerous not just due to monetary theft, but also because it can disrupt international trust in Indian business and get honest firms entangled in legal or blacklisting troubles. How It Works: Scammers produce forged LCs, often copying templates and inserting fake bank details. They may email or courier these to suppliers or importers, requesting release of goods or early shipment. Sometimes, scammers impersonate actual banks, sending fraudulent emails with official-looking documents. Unwitting companies expect guaranteed payment upon dispatching goods; however, the LC is invalid or non-existent. India Angle: Businesses in major trade cities—Mumbai, Kolkata, Chennai—and exporters dealing with overseas buyers are most targeted. The scam is often run through email, WhatsApp, and sometimes physical courier, with documents appearing genuine at first glance. Some attacks occur on platforms like SWIFT or between staff collaborating with external fraudsters. Real Examples: A Chennai-based machinery exporter got an official-looking LC by email from a supposed Italian buyer through their overseas partner, with documents bearing authentic-seeming stamps and signatures. The buyer pressed for urgent shipment, but later, the exporter discovered the LC number was not present in the issuing bank's system. Red Flags: 1. LC documents sent from generic or lookalike email addresses. 2. Requests for urgent shipment before bank confirmation. 3. LC numbers unable to be verified with issuing bank. 4. Spelling or formatting mistakes in documents. 5. Bank seals or authorizations that do not match standard templates. Protective Measures: Independently verify every received LC with the issuing bank via a trusted, official channel. Never ship goods purely on the strength of an emailed document. Use your own bank to confirm authenticity and request checks on any discrepancies. Train staff to recognise tampered documentation. If Victimised: Immediately contact your bank and instruct a hold on goods pending investigation. Report the case to cybercrime.gov.in and the RBI. Retain all email and courier records for the authorities. Related Scams: 1. SWIFT message manipulation scams. 2. Phishing attempts using fake bank credentials. 3. Advance payment frauds with counterfeit paperwork.

Visual Intelligence:

BharatSecure's AI has identified this as a used in scams targeting Indian users.

Who Does Letter of Credit (LC) Forgery Scam Target?

General public across India

Red Flags — How to Identify Letter of Credit (LC) Forgery Scam

• LCs received via generic or non-official emails
• Inability to verify LC number with the bank
• Demands for urgent shipment before normal verification
• Questionable seals, signatures, or document formatting

What To Do If You Encounter Letter of Credit (LC) Forgery Scam

1. Do not click any links or share personal information
2. Block and report the sender immediately
3. Report at cybercrime.gov.in or call 1930
4. Inform your bank if financial details were shared

How to Report Letter of Credit (LC) Forgery Scam in India

• Call 1930 — National Cyber Crime Helpline (24x7)
• File a complaint at cybercrime.gov.in
• Contact your bank immediately if money was lost
• Call RBI helpline: 14440 for banking fraud

Frequently Asked Questions

What is Letter of Credit (LC) Forgery Scam?

Overview: The Letter of Credit (LC) Forgery Scam involves fraudsters fabricating or altering trade finance documents to tap into credit lines, leading to big losses for Indian exporters, importers, and banks. This scheme is dangerous not just due to monetary theft, but also because it can disrupt international trust in Indian business and get honest firms entangled in legal or blacklisting troubles. How It Works: Scammers produce forged LCs, often copying templates and inserting fake bank detai

How does Letter of Credit (LC) Forgery Scam work?

Overview: The Letter of Credit (LC) Forgery Scam involves fraudsters fabricating or altering trade finance documents to tap into credit lines, leading to big losses for Indian exporters, importers, and banks. This scheme is dangerous not just due to monetary theft, but also because it can disrupt international trust in Indian business and get honest firms entangled in legal or blacklisting trouble

How to protect yourself from Letter of Credit (LC) Forgery Scam?

Do not click any links or share personal information Block and report the sender immediately Report at cybercrime.gov.in or call 1930 Inform your bank if financial details were shared

How to report Letter of Credit (LC) Forgery Scam in India?

Report to cybercrime.gov.in or call 1930 (National Cyber Crime Helpline). You can also contact your local police station's cyber cell.

Verify Any Suspicious Message

Check any suspicious message, link, or call for free at bharatsecure.app. BharatSecure uses AI to detect scams in real-time and protect Indian users.