Frequently Asked Questions About KTT Transfers
Ghost-Money Schemes: KTT, IPID, IPIP, DTC “Transfers” and MT103/202 Manual Downloads
The Schemes at a Glance
| Scheme | Promoters Claim | Operational Reality | Common Upfront Hook |
|---|---|---|---|
| KTT (Key Tested Telex) | Telex code moves large sums between “private” banks. | Telex retired; no correspondent will debit a nostro on a checksum. | Activation or unblock fee. |
| IPID / IPIP | “Inter-Platform Instant Deposit/Payment” bypasses SWIFT delays. | No recognised clearing house supports these acronyms. | Software licence or compliance fee. |
| DTC Book-Entry “Wire” | Depository Trust Company codes settle cash like securities. | DTC books securities only; cash legs still move via Fedwire or CHIPS. | Courier charges for “original” slips. |
| MT103/202 Manual Download | Funds are “parked” in the SWIFT cloud pending a banker’s pull. | SWIFT FIN either delivers or rejects; no manual pull exists. | Release or compliance certificate fee. |
Why Ghost-Money Prefers Obscure Codes
All four scripts avoid mainstream rails—SWIFT MT103/202 with proper cover, Fedwire, SEPA, TARGET2—because those networks demand cleared balances, sanctions screening and bilateral agreements. Brokers selling ghost money know their issuers lack correspondent credit lines. An exotic label distracts victims from asking for standard proofs of funds or settled ledger entries.
Shared Red Flags
- Issuer is an NBFC or offshore “bank” with no central-bank registration.
- Transaction size dwarfs the issuer’s stated capital.
- Audited financials unavailable; excuses about non-disclosure agreements.
- First invoice requests a processing, compliance or tax fee before verification.
- Communication occurs through free e-mail, social apps or encrypted chat only.
Five-Question Litmus Test
- Correspondent Evidence – Name the USD or EUR correspondent and provide a recent account statement.
- BIC Verification – Supply a valid SWIFT BIC; confirm its live status on swift.com.
- Proof via MT199 – Instruct the sending bank to dispatch an authenticated MT199 to your bank before fees are paid.
- Collateral Details – Identify the pledged asset (ISIN, CUSIP, land registry or UCC filing).
- Regulatory Licence – Provide the licence number on a central-bank register and the most recent examination report.
If the Issuer Were Actually Creditworthy
Even a solvent institution would still need to settle against cleared balances or pledged securities. Whether the message uses SWIFT, Fedwire or any legacy code, the receiving correspondent will debit a nostro only after confirming liquidity. A standalone KTT, IPIP or “DTC cash wire” without matching assets fails that test immediately.
Practical Alternatives for Real Financing
Firms requiring significant liquidity obtain it through transparent instruments: Regulation D private placements, secured note programmes, receivables finance, export credit agency cover or fully collateralised standby letters of credit. Each route involves standard KYC, audited statements and enforceable security interests—never obscure message codes or pay-first release-later promises.
The Facts
Ghost-money schemes recycle defunct or imaginary messaging formats because real-time payment networks expose the absence of funds. When a counterparty champions KTT, IPID, IPIP, DTC cash wires or manual SWIFT downloads, walk away and channel effort toward regulated capital-market solutions backed by verifiable assets and live balances.
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