This page describes a real fraud type affecting SWIFT wire transfer users. If you believe you have been targeted, do not send money and contact your bank immediately. Verify any SWIFT payment free using the UETR tracker at the bottom of this page.
Correspondent Bank Impersonation Fraud
Correspondent bank impersonation fraud exploits the multi-step nature of SWIFT international payments. Because most cross-border wires route through one or more correspondent (intermediary) banks before reaching the final destination, fraudsters impersonate these intermediaries — claiming the payment is "on hold" at their fictitious correspondent and extracting fees to release it.
How This Fraud Works
A SWIFT payment is delayed (for legitimate compliance or liquidity reasons) or the fraudster fabricates a delay.
The fraudster, posing as a correspondent bank employee or compliance officer, contacts the payment sender or receiver claiming the funds are "on hold" due to AML, sanctions screening, or a technical issue.
They demand a fee — "AML clearance fee", "release bond", "guarantee deposit" — to unblock and forward the funds.
Once the fee is paid, new reasons for delay are manufactured. The original legitimate payment eventually arrives (or was never real), and the fee is gone.
Red Flags — Warning Signs
Unsolicited contact from a "correspondent bank" or "SWIFT compliance officer" claiming your payment is on hold.
A request for any fee to release a legitimate SWIFT payment — correspondent banks do not charge release fees to payees.
The name of the "correspondent bank" does not appear on Ohmyfin's SWIFT code directory.
Contact via personal email or WhatsApp rather than from a verified institutional email domain.
Instructions to pay the fee to a personal bank account rather than the bank's official account.
How to Verify Before Acting
Check the Ohmyfin UETR tracker — if a SWIFT payment is genuinely held at a correspondent bank, its status will show ACSP (accepted, settlement pending) with the holding bank's BIC visible.
Contact the named correspondent bank directly using contact details from their official website (not from the message you received).
Verify the correspondent bank's BIC on Ohmyfin's SWIFT code directory.
Contact your own sending bank — they will know the status of the payment and any legitimate holds.
What To Do If You Are Targeted
Never pay any fee to release a SWIFT payment — legitimate intermediaries recover their costs from the transaction amount, not via separate fees from the payee.
Report the contact to your bank, who can alert the real correspondent bank if their name is being used.
Report to the national fraud authority.
If a real UETR is involved, track it on Ohmyfin to confirm the actual status and holding bank.
Verify Any SWIFT Payment — Free in 30 Seconds
Paste the 36-character UETR from any MT103 or payment confirmation. If the payment is real, Ohmyfin shows the live SWIFT GPI status. If it's fake, it shows "not found". Free for individuals.
Can a correspondent bank really put my SWIFT payment on hold?
Yes — legitimate holds happen for AML/sanctions screening, missing beneficiary details, or liquidity issues. However, your own sending bank will notify you directly, and any legitimate hold is visible in the UETR status on Ohmyfin (shown as ACSP with the holding bank's BIC). No legitimate correspondent bank will contact you directly and demand a personal fee to release funds.
How do I find out which correspondent bank is holding my payment?
Paste the UETR into Ohmyfin. The tracker queries the SWIFT GPI chain and shows you which intermediary currently holds the payment, the current status code (ACSP/ACSC/RJCT), and the timestamp of the last update.
What is the difference between a SWIFT deduction and a release fee?
SWIFT OUR/SHA/BEN charge codes determine how correspondent bank fees are deducted from the payment amount itself — this is normal and disclosed at the time of transfer. A "release fee" payable separately to an individual is always fraudulent.