Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
INACTIVE
This page is no longer active. Its content has expired or been rescinded by the FDIC.

SPECIAL ALERT

BSA/AML, OFAC and Fraud
March 8, 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," Issue No. 2, dated February 2000, 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. The circular may be found at: http://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: (electronic version not 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: March 8, 2000