In short
A business deal is supported by a bank guarantee or financial instrument that is forged, fabricated or falsely represented The objective is typically to cause commercial loss when the supposed guarantee cannot be honored.
What it is
The document is presented as proof that payment/performance is secured by a bank. The victim is then pushed to deliver goods/services, extend credit or transfer money relying on the false guarantee.
How it starts
A business deal is supported by a bank guarantee or financial instrument that is forged, fabricated or falsely represented.
What they tell you
The document is presented as proof that payment/performance is secured by a bank
What they want you to do
Deliver goods/services, extend credit or transfer money relying on the false guarantee
How you lose money
cause commercial loss when the supposed guarantee cannot be honored
What happens next
After the first successful step, the fraudster may demand more money/information, deepen account or device access, or disappear.
Warning signs
authority | trust | commercial pressure | forged document | bank impersonation
Where this is documented
India — officially documented by an Indian authority/regulator
How to avoid it
Verify payment-detail changes and executive requests through a second trusted channel; use MFA and domain/email controls; pause unusual urgent transfers.
If it already happened
Contact the bank/payment provider immediately if money moved; report financial cyber fraud promptly via 1930 and cybercrime.gov.in; preserve messages, transaction IDs, phone numbers and URLs. Alert finance/security teams and the receiving bank immediately, and preserve email headers and approval records.