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KTT
Sept 23, 2023 22:38:59 GMT 4
Post by Sapphire Capital on Sept 23, 2023 22:38:59 GMT 4
KTT or better key tested telex was the old method of international banking for instructing a correspondent bank to transfer money or to inform a receiving bank to expect receiving funds. With the SWIFT the use of ktt went from transfer to messaging in documentary credits and foreign exchange and then almost complete disappeared between money center banks. Sure they still have some telex capabilities for working with banks that still use telex but thats mostly documentary credit support. In the last year brokers have flooded the market with KTT requests looking for receivers for KTT send instruments and money transfers. Most of the sending banks are financial institutions without a SWIFT or even correspondent bank so such instruments can not be settled or used.
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KTT
Sept 23, 2023 23:05:53 GMT 4
via mobile
Post by typhoon on Sept 23, 2023 23:05:53 GMT 4
KTT or better key tested telex was the old method of international banking for instructing a correspondent bank to transfer money or to inform a receiving bank to expect receiving funds. With the SWIFT the use of ktt went from transfer to messaging in documentary credits and foreign exchange and then almost complete disappeared between money center banks. Sure they still have some telex capabilities for working with banks that still use telex but thats mostly documentary credit support. In the last year brokers have flooded the market with KTT requests looking for receivers for KTT send instruments and money transfers. Most of the sending banks are financial institutions without a SWIFT or even correspondent bank so such instruments can not be settled or used. Thanks for the info, very useful. In the same vein, maybe you have some idea of what brokers meant by ipid transfer, semi automic/manual MT103 transfer, off ledger fund, MT199/799 fund blocking, ping blocking etc etc
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KTT
Sept 24, 2023 16:16:57 GMT 4
Post by anenro on Sept 24, 2023 16:16:57 GMT 4
Requests from "brokers" for KTT or IPIP or MT103 manual download or some comical banking procedure, should be a plain evidence that you are in communication with someone who has absolutely no clue of the banking system. Joker-broker label comes to mind.
The facts are: Most of the Internet "brokers" have no education at all (in finance). They pick up trash from the Internet and repeat it as a parrot would. Wasting their time and yours, if you cannot spot the red flags.
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KTT
Sept 24, 2023 16:51:51 GMT 4
via mobile
Post by typhoon on Sept 24, 2023 16:51:51 GMT 4
Requests from "brokers" for KTT or IPIP or MT103 manual download or some comical banking procedure, should be a plain evidence that you are in communication with someone who has absolutely no clue of the banking system. Joker-broker label comes to mind. The facts are: Most of the Internet "brokers" have no education at all (in finance). They pick up trash from the Internet and repeat it as a parrot would. Wasting their time and yours, if you cannot spot the red flags. Yes indeed. But I am also interested in the historical background (if any) of such broker "terms"; if they had been in the past been used for some real or obscure transactions. Just like the term KTT which is recycled again & again by brokers.
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KTT
Sept 26, 2023 0:15:14 GMT 4
Post by Sapphire Capital on Sept 26, 2023 0:15:14 GMT 4
Before SWIFT came into existence, international interbank telecommunication was handled through Telex-Messages. They were not very secure and not automated. Telex Networks were developed from the 1930s onwards and they have been on the decline since the 1980s. The financial industry was one of the first industries to replace the Telex network through a proprietary system.1 In 1973, 239 banks from 15 countries founded SWIFT in order to create a shared worldwide data processing and communication link. One of its main tasks even today is to create common standards for the transmission of financial information. SWIFT became operational in 1977, when the first message was sent over the SWIFT network. Within a year, 10 million messages have been sent and the numbers of customers has grown to 518. In 1979, SWIFT connected to the US for the first time and established an operation center, followed a year later by connection to Asian countries. A major step was made in 1987, when SWIFT’s membership voted to expand the user base to include broker dealers, exchanges, central depositories and clearing institutions. This expanded the range of messages carried in the SWIFT network, also including securities along the traditional payment messages. From that point on telex declined everywhere in thefinancial services.
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KTT
Sept 26, 2023 0:20:30 GMT 4
Post by fireopal on Sept 26, 2023 0:20:30 GMT 4
even Africa is moving away from KTT to PAPS papss.com/
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KTT
Sept 26, 2023 11:47:24 GMT 4
via mobile
Post by typhoon on Sept 26, 2023 11:47:24 GMT 4
even Africa is moving away from KTT to PAPS papss.com/Does that mean "manual" download was practiced during the telex era?
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KTT
Sept 26, 2023 11:48:40 GMT 4
via mobile
Post by typhoon on Sept 26, 2023 11:48:40 GMT 4
Before SWIFT came into existence, international interbank telecommunication was handled through Telex-Messages. They were not very secure and not automated. Telex Networks were developed from the 1930s onwards and they have been on the decline since the 1980s. The financial industry was one of the first industries to replace the Telex network through a proprietary system.1 In 1973, 239 banks from 15 countries founded SWIFT in order to create a shared worldwide data processing and communication link. One of its main tasks even today is to create common standards for the transmission of financial information. SWIFT became operational in 1977, when the first message was sent over the SWIFT network. Within a year, 10 million messages have been sent and the numbers of customers has grown to 518. In 1979, SWIFT connected to the US for the first time and established an operation center, followed a year later by connection to Asian countries. A major step was made in 1987, when SWIFT’s membership voted to expand the user base to include broker dealers, exchanges, central depositories and clearing institutions. This expanded the range of messages carried in the SWIFT network, also including securities along the traditional payment messages. From that point on telex declined everywhere in thefinancial services. Does that mean "manual' download was practiced during the telex era?
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KTT
Sept 26, 2023 11:49:58 GMT 4
via mobile
Post by typhoon on Sept 26, 2023 11:49:58 GMT 4
even Africa is moving away from KTT to PAPS papss.com/Thanks for the link
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KTT
Sept 27, 2023 2:43:01 GMT 4
Post by Sapphire Capital on Sept 27, 2023 2:43:01 GMT 4
manual download in the telex times, was a debit telex that was then accepted, the broker bs download is a permit to debit from a specific coded account under a specific handling. such specialties exist but are not common and defacto even in old days were not available to brokers.
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KTT
Sept 27, 2023 6:16:22 GMT 4
via mobile
Post by typhoon on Sept 27, 2023 6:16:22 GMT 4
manual download in the telex times, was a debit telex that was then accepted, the broker bs download is a permit to debit from a specific coded account under a specific handling. such specialties exist but are not common and defacto even in old days were not available to brokers. Thanks, very educative
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sapuco
Junior Member
Posts: 92
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KTT
Sept 28, 2023 22:59:57 GMT 4
anenro likes this
Post by sapuco on Sept 28, 2023 22:59:57 GMT 4
getting flooded with KTT receiver requests from brokers using banks that have no SWIFT, pretty sure they do not have real licenses. all seem to lack any correspondent which can settle transfers so the transfers can never happen. some are trying the API way, so not sure that is an alternative, all very brokerage minded in terminology and handling, so far I looked deeper but I am going to stop wasting my time
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KTT
Dec 1, 2023 23:55:31 GMT 4
anenro likes this
Post by Sapphire Capital on Dec 1, 2023 23:55:31 GMT 4
another offer looking for a receiver in the format of KTT , sender is NIISITAPI SOVEREIGN BANK OF SASG BANK an Alberta Canada Reservation Bank, lol billions and no way to clear it, came to my desk from 3 separate directions complete no go and no good
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KTT
Dec 2, 2023 3:49:54 GMT 4
via mobile
anenro likes this
Post by typhoon on Dec 2, 2023 3:49:54 GMT 4
another offer looking for a receiver in the format of KTT , sender is NIISITAPI SOVEREIGN BANK OF SASG BANK an Alberta Canada Reservation Bank, lol billions and no way to clear it, came to my desk from 3 separate directions complete no go and no good Never heard of this name before. A fake bank?
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KTT
Dec 2, 2023 7:11:09 GMT 4
anenro likes this
Post by alanbond on Dec 2, 2023 7:11:09 GMT 4
niisitapisovereignbank.org/ SASG stands for SOVEREIGN AAPAITSITAPII SIKSIKAITSITAPISHKAHKOO , tribal bank no supervision in Canada, or actually not really a bank but some fraudsters think for the reservation they can just make a new one, like the Komore Islands
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KTT
Dec 3, 2023 2:16:57 GMT 4
Post by anenro on Dec 3, 2023 2:16:57 GMT 4
niisitapisovereignbank.org/ SASG stands for SOVEREIGN AAPAITSITAPII SIKSIKAITSITAPISHKAHKOO , tribal bank no supervision in Canada, or actually not really a bank but some fraudsters think for the reservation they can just make a new one, like the Komore Islands A nighttime broker, Javier Herranz, mentioned he had this deal, from a group in Canada. The moment we checked on Javier's background we understood why he made it his profession to practice finance after his regular job (driving a cab).
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