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SPECIAL ALERT

BSA/AML, OFAC and Fraud
August 18, 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 (OSFI) of Canada has published the attached issues of "Monthly Warning Advisory," which contain names of entities recently brought to OSFI's attention through some sort of inquiry or complaint. These issues are a supplement to the "Warning Circular" provided in FIL-28-2000, dated April 19, 2000. Each "Monthly Warning Advisory" beginning with the April issue, and the latest "Warning Circular" dated March 2000, may be found at www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=166 .

If these entities - or persons purporting to represent them - are operating in Canada, they may be violating provisions of the Bank Act (Canada) or other Canadian financial institution regulations 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: www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=166

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: August 18, 2000