How do I check a counterparty that uses MT799 in a deal?

The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against OilFlow's first-party fraud-cluster corpus in seconds, and confirm identity documents and banking details independently before you transact.

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Payment instrumentsmt799

MT799

A free-format SWIFT message often misrepresented as a payment guarantee; a recurring instrument in instrument-fraud schemes.

MT799 is a free-format SWIFT message type for bank-to-bank text communication. It is NOT a payment instrument and carries no financial obligation, despite being routinely demanded in scam procedures as a "pre-advice" or "soft probe" before an MT700 LC or MT760 guarantee. Any procedure that hinges on an MT799 "proving" funds or commitment is a red flag — the MT799 conveys text, not money.

Related: MT700, MT760, POF.

Frequently asked

What does MT799 mean in oil and commodity trading?: A free-format SWIFT message often misrepresented as a payment guarantee; a recurring instrument in instrument-fraud schemes.
How do I check a counterparty that uses MT799 in a deal?: The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against OilFlow's first-party fraud-cluster corpus in seconds, and confirm identity documents and banking details independently before you transact.