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 : 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."
 : 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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