Important Disclaimer: This article is for informational purposes only. FG Capital Advisors does not offer or participate in Ping Trade, PPP, Bullet Trade, or Managed SBLC Buy-Sell Programs. These programs are widely considered fraudulent and should be avoided.
Why Ping Trade, PPP, Bullet Trade, and Managed SBLC Buy-Sell Programs Are Scams — And How They Steal Your Identity and Collateral
Programs marketed as "Ping Trade", "Private Placement Programs", "Bullet Trades", and "Managed SBLC Buy-Sell" are not legitimate investment structures. They are scams designed to steal your personal identity and misappropriate your collateral. These schemes typically involve KYC harvesting, MT799 misuse, synthetic identity fraud, and Standby Letter of Credit (SLOC) manipulation, exposing victims to severe financial and legal risks.
Identity Theft Through KYC and MT799 Abuse
The first step in these scams is collecting your KYC package and often an MT799 from your bank. This gives scammers everything they need to create synthetic identities. Synthetic identity fraud is one of the fastest growing financial crimes globally, with U.S. banks alone suffering nearly $6 billion annually in losses from synthetic identity-related fraud schemes. Once armed with your identity, scammers can open accounts and initiate transactions entirely in your name.
Collateral Misappropriation via SLOC Issuance
Victims are then pressured to issue a Standby Letter of Credit (SLOC) in favor of the so-called "Platform." While fraudsters claim your funds remain untouched, they immediately borrow against your SLOC. Once drawn, they have full discretion over the proceeds. If the borrowing is misused (as it often is) and repayment fails, you — as the guarantor — are liable. Your SLOC will be triggered and enforced against your account, resulting in a total loss.
Too Good To Be True Returns and the "No Funds Move" Trap
The hook used in these scams is the promise of absurd returns (e.g., 120% in 30 days) and reassurances that "your funds don't move." While your funds may not move, your identity and your creditworthiness certainly do. You become the hidden guarantor in a web of unauthorized credit activity, typically for individuals and shell companies you have never met and who have no capacity to honor obligations. When defaults happen, you are left exposed.
Managed SBLC Buy-Sell Programs Are Equally Fraudulent
The concept of buying and selling Standby Letters of Credit at a discount to generate profit is equally false. Genuine SBLCs are issued for specific credit enhancement purposes and are non-transferable without explicit consent. Scammers promising "Managed Buy-Sell Programs" aim to get you to issue a SBLC, then fraudulently raise cash using it while leaving you exposed to liability.
Summary of Red Flags
| Program Type | Primary Scam Tactic |
|---|---|
| Ping Trade / PPP | Identity theft via KYC and MT799 harvesting |
| Bullet Trade | False claim of rapid returns → misappropriation of collateral |
| Managed SBLC Buy-Sell | Use of victim-issued SBLC to raise unauthorized funds |
Final Word
Ping Trades, PPPs, Bullet Trades, and Managed SBLC Buy-Sell Programs do not exist in regulated financial markets. They are scams built on identity theft, credit misuse, and false promises. Victims risk catastrophic financial losses and reputational damage. No legitimate institution offers guaranteed returns using financial unicorns that require your KYC and credit as the core ingredient. Always seek advice from qualified financial counsel before engaging in any non-bank trading or credit programs.
FG Capital Advisors does not engage in or endorse these schemes. We work exclusively through regulated banks and documented financial transactions with enforceable legal protections.
