KTT Transfers in Trade Finance – What’s Real and What’s Not
Brokers pushing Key Tested Telex (KTT), IPID, IPIP, DTC “cash wires” or MT103/202 manual downloads promise headline numbers but deliver ghost money. Search engines keep surfacing these terms, so this article sets out the clear contrasts between credible investors and promoters of fictitious transfers.
Legitimate Investors Versus Ghost-Money Pushers
1 Capital Source
| Legitimate Investor | Ghost-Money Pusher | |
|---|---|---|
| Proof of funds | Bank statements on letterhead, verified through SWIFT or Fedwire test message | PDF screenshots, blocked-fund letters or vague balance confirmations |
| Regulator oversight | Licence number on securities or banking register | Entity in light-touch jurisdiction, licence “applied for” |
| Capital size | Aligned with audited net worth | Amounts far above paid-in capital |
2 Transfer Method
| Legitimate Investor | Ghost-Money Pusher | |
|---|---|---|
| Messaging rail | SWIFT MT103 with matched MT202 cover, SEPA, Fedwire or TARGET2 | KTT, IPID, IPIP, DTC cash wire, MT103/202 manual download |
| Settlement confirmation | Value-dated credit on correspondent ledger | Promise of “manual pull” or “download” once fees are paid |
| Security for advance payments | Escrow with independent counsel or bank guarantee | Escrow waived because “funds already reserved” |
3 Disclosure Standards
| Legitimate Investor | Ghost-Money Pusher | |
|---|---|---|
| Financial statements | Audited by Big-Four or equivalent | Self-prepared management accounts, no auditor signature |
| Know-your-customer | Requests full corporate documents from recipient | Minimal KYC, cites “time sensitivity” |
| Communication channel | Corporate email, recorded conference calls | Free mailbox, encrypted chat only |
4 Deal Economics
| Legitimate Investor | Ghost-Money Pusher | |
|---|---|---|
| Return expectation | Market-linked yield, equity upside or collateralised coupon | Breathtaking split of face value with zero collateral posted |
| Fee timing | Success-based or staged after milestones | Large “compliance” fee before any bank-to-bank contact |
| Use of proceeds | Detailed project budget, investor rights documented | No project details, funds “already allocated” |
5 Behavioural Clues
- Legitimate investor invites direct verification between banks; ghost-money pusher blocks all bank-to-bank calls.
- Legitimate investor accepts escrow or trustee; ghost-money pusher demands fees to a personal account.
- Legitimate investor names relationship managers at major correspondents; ghost-money pusher quotes unknown rail acronyms.
- Legitimate investor follows a term-sheet timeline; ghost-money pusher floats vague promises of visibility “next week”.
Key Takeaway
Real capital moves through recognised rails, backed by verifiable assets and supervised entities. Anything built on KTT, IPID, IPIP, DTC book-entry “wires” or MT103 manual downloads is ghost money—walk away before the upfront fee vanishes.
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