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Special Alerts

SA-75-2005
July 1, 2005


TO: CHIEF EXECUTIVE OFFICER (also of interest to Security Officer)
SUBJECT: Entities That May Be Conducting Banking Operations in Canada or the United States Without Authorization
Summary: Entities may be illegally operating as financial institutions.

The Office of the Superintendent of Financial Institutions (OSFI) of Canada has published the attached "Warning Notices" (Updated Issue No. 57 and Issue No. 58), which contain the names of entities recently brought to OSFI's attention. These entities are Harvest Capital, Etobicoke, Ontario; Harvest Capital, Houston, Texas (www.harvestcapital.ca ); Swiss Securities Group, Inc. (no address); and National Financial Group, Toronto, Ontario (http://nationalfingroup.com ). In addition, Warning Notice Issue No. 59 (also attached) was issued to advise that First United Bank, Toronto, Ontario, has been removed from OSFI's warning list.

These entities, or persons representing them, are reportedly operating in Canada. They may be violating provisions of the Bank Act (Canada) or other Canadian financial institution regulations. They may also be conducting unauthorized banking transactions in the United States. Any proposed transactions involving these entities should be viewed with extreme caution.

Each "Warning Notice," beginning with Issue No. 1, through OSFI's latest "Warning Notice" may be found at: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=166.

Information about these entities may be forwarded to the FDIC's Cyber Fraud and Financial Crimes Section, 550 17th Street, N.W., Room F-4004, Washington, D.C. 20429, or transmitted electronically to alert@fdic.gov. Information related to federal deposit insurance or consumer issues should be submitted to the FDIC using an online form that can be accessed at http://www2.fdic.gov/starsmail/index.asp.

For your reference, FDIC Special Alerts may be accessed from the FDIC's website at www.fdic.gov/news/news/SpecialAlert/2005/index.html. To learn how to automatically receive FDIC Special Alerts through e-mail, please visit www.fdic.gov/about/subscriptions/index.html.

Michael J. Zamorski
Director
Division of Supervision and Consumer Protection

Attachments: Can be found at:
http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_57_e.pdf
http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_58_e.pdf
http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_59_e.pdf

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC Special Alerts may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342 or (703) 562-2200).




Last Updated 07/01/2005 communications@fdic.gov