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SPECIAL ALERT

BSA/AML, OFAC and Fraud
August 27, 2002


TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Maryland Investments Club - Internet Investment Scheme

The Canada Deposit Insurance Corporation (CDIC) has issued a news release advising North American investors and depositors of an apparent Internet fraud scheme falsely involving CDIC. A copy of the news release is attached for your information. A copy may also be found by visiting the CDIC Web site, http://www.cdic.ca/?id=287&contid=184&count=0 .

A person or group of persons carrying on business as the Maryland Investments Club is offering cashable guaranteed investment certificates called "digital investment certificates" for sale over the Internet. These certificates are purported to be issued by MD Private Trust Company and are said to be held electronically and guaranteed in full by the Canada Deposit Insurance Corporation. This is not the case. The signature of CDIC's General Counsel, Gillian Strong, on any Maryland Investments Club documentation is a forgery. The certificates falsely bear the Government of Canada wordmark and the logo of the Canada Deposit Insurance Corporation.

Any information concerning this scheme should be brought to the attention of:

Mr. Bob Quinn
Director, Communications and Public Affairs
Canada Deposit Insurance Corporation
Phone: (613) 943-1971
E-mail: bquinn@cdic.ca
Any information about this activity may be forwarded to the FDIC's Special Activities Section, 550 17th Street, NW, Room F-6012, Washington, DC 20429, or forwarded electronically to alert@fdic.gov .

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 "Newsroom, Events & FOIA." To learn how to automatically receive FDIC Financial Institution Letters through e-mail, please visit http://www.fdic.gov/news/news/announcements/index.html .

Michael J. Zamorski
Director

Attachments (Available at http://www.cdic.ca/?id=287&contid=184&count=0 .)

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 27, 2002