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Special Alert

BSA/AML, OFAC and Fraud
February 29, 2000

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Entities That May Be Conducting Banking Operations in Canada or the United States Without Authorization

The Office of the Superintendent of Financial Institutions of Canada has published the attached "Monthly Warning Advisory," which contains a list of entities that are not licensed chartered banks in Canada and are not registered representative offices of foreign banks in Canada. This list is a supplement to the "Warning Circular" provided in FIL-111-99, dated December 16, 1999, which can be found at www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=166 .

These entities may be operating in Canada in violation of the Bank Act (Canada) and also may be conducting unauthorized banking transactions in the United States. Any proposed transactions involving these entities should be viewed with extreme caution.

Any information about these entities should be forwarded to the FDIC's Special Activities Section, 550 17th Street, NW, Room F-6012, Washington, DC 20429. For your reference, all FDIC Financial Institution Letters published since January of 1995 may be found on the FDIC's Web site at www.fdic.gov under "News, Events & FOIA."

James L. Sexton
Director

Attachment: (no electronic version available at this time)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).


Last Updated: February 29, 2000