Fraud mechanics, transaction structures, and the realities of buying gold in Africa. Written from direct market experience for buyers, intermediaries, and anyone who has been approached about an African gold deal.
In gold trading, a certain category of document has become remarkably common. It goes by different names depending on who is presenting it: blocked funds, a bank comfort letter, an MT799 message, a proof of funds certificate, a Ready Willing and Able letter. The names vary. The underlying problem does not.
Sellers describe their offering as CIF. Buyers ask for CIF terms. Brokers negotiate CIF deals. The word is everywhere in WhatsApp messages, email chains, and verbal discussions. It has become the shorthand for a specific kind of transaction
