Key Tested Telex Transfers Hold No Monetary Value
Scam operators fake online banking portals to display invented balances, but commercial banks stopped clearing Telex traffic decades ago. Regulated banks holding real collateral route funds through SWIFT, Fedwire, TARGET2, CHIPS, SEPA or similar RTGS rails, so any deal anchored on a KTT is empty.
FG Capital Advisors confirms that so-called “Key Tested Telex” transfers have no standing in modern banking. They do not move money. They do not prove ownership. Any proposal built on KTT is fraudulent.
Origin and Obsolescence
Before 1977 cross-border payments were confirmed by Telex messages that carried a numeric test key. The launch of the SWIFT network automated compliance checks and settled balances in real time. Telex-based traffic was retired decades ago, and live banking cores no longer accept it.
How the Scam Works
Fraud promoters set up a shell entity, register a convincing web domain, and deploy a private portal that looks like online banking. They enter any figure they want into the front-end, invite the victim onto a screen-share, and point to the “balance” as proof of funds. Because the portal is not connected to a clearing house or correspondent network, the display has no link to real cash.
Why It Is So Easy to Fake
A static webpage can imitate a core-banking dashboard with only basic HTML, JavaScript, and CSS. Here is a stripped-down example:
<!DOCTYPE html>
<html>
<head>
<style>
body {font-family: Arial, sans-serif; background:#f4f9fc;}
.tile {border:1px solid #45abd8; border-radius:6px; padding:20px; width:380px;}
.big {font-size:1.8rem; color:#1a1f5a;}
</style>
</head>
<body>
<div class="tile">
<p class="big">Client Balance: USD 25,000,000.00</p>
</div>
</body>
</html>
Anyone can replace the number in that file and claim to hold ten times more. No core ledger, no central-bank reserve, no audit trail—only cosmetic code.
Red Flags
- No SWIFT reference or BIC for settlement.
- Portal screenshots offered as the only proof of funds.
- Advance fees demanded for “compliance” or “setup”.
- Promises of instant credit once the fee is paid.
FG Capital Advisors Position
The firm neither arranges nor accepts KTT traffic. We advise clients to reject any KTT-based approach, decline all advance-fee requests, and report suspected fraud to the relevant authorities.