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Special Alerts

SA-85-2005
July 14, 2005


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

The Office of the Superintendent of Financial Institutions (OSFI) of Canada has published the attached "Warning Notice" (Issue No. 60), which contains the name of an entity recently brought to OSFI's attention. This entity is Maritime Financial & Security Co., Toronto, Ontario, Canada (www.marfinco.com). The entity, or persons representing the entity, is reportedly operating in Canada. The entity may be violating provisions of the Bank Act (Canada) or other Canadian financial institution regulations, and may also be conducting unauthorized banking transactions in the United States. Any proposed transactions involving this entity 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 this entity 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 Web site 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

Attachment: http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_60_e.pdf - PDF 34k (PDF Help)

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 07/14/2005 communications@fdic.gov