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Prime Bank

Truth:

Theoretically, a "Prime Bank" would be one that has been rated as having an excellent creditworthiness record as determined by an independent risk evaluation company such as Standard and Poor's.  However, in the financial world this term is not used at all.  Neither is the term "Top World Bank."

Scam:

Con artists are fond of the term "Prime Bank."  Offers for Prime Bank Guarantees (PBG's) can be found all over the Internet on web sites, in discussion groups, and in emails.  In effect, a GUARANTEE is not even a financial instrument.  It is a financial term.  Those who are taken in by the offer, which is usually a sum of money sent to a bank in exchange for a so-called PBG, lose their funds the moment their money hits the account set up in the bank by the con artist.

The UNDERGROUND NETWORK is full of such offers, usually starting at values exceeding $500,000 and running into values in the billions of dollars. 

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