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Special Alerts

SA-171-2006
June 23, 2006


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: International Money Transfer may be illegally operating as a financial institution.

The Office of the Superintendent of Financial Institutions (OSFI) Canada has published the attached "Warning Notice" (Issue No. 70) containing the name of an entity recently brought to OSFI's attention. The entity listed is International Money Transfer (http://www.imtcard.com), which is located in Delaware, United States.

Warning Notice Issue No. 70 states that the name listed is not an authorized, federally regulated (Canadian) financial institution and may be associated with advance fee scams (see also OSFI's Warning Notice No. 23, dated February 2002). This entity, or persons purported to represent the entity, is not insured by the Canada Deposit Insurance Corporation. 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.

To report this scam or any other scam based in or mailed from Canada, please contact Phonebusters, which is a joint partnership between the Ontario Provincial Police and the Royal Canadian Mounted Police. Phonebusters is interested in receiving copies of scam letters, particularly those involving Canadian mailing addresses or telephone numbers. Records relating to the payment of advance fees should also be forwarded to Phonebusters. This information is used to assist in the strategic targeting of would-be fraudsters. Scam letters should be forwarded to the Phonebusters National Call Center (PNCC) as follows:

Mail:Box 686
North Bay, Ontario, Canada
P1B 8J8
Web site: www.phonebusters.com
Telephone:+1 (888) 495-8501 (toll-free in Canada and the USA)
Fax:+1 (888) 654-9426 (toll-free in Canada and the USA)
E-mail:info@phonebusters.com
Advance fee fraud (including Nigerian and lottery letters): wafl@phonebusters.com

Information about counterfeit items, cyber-fraud incidents and other fraudulent activity 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/2006/index.html. To learn how to automatically receive FDIC Special Alerts through e-mail, please visit www.fdic.gov/about/subscriptions/index.html.

Sandra L. Thompson
Acting Director
Division of Supervision and Consumer Protection

Attachment: http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_70_e.pdf - PDF 92k (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 (1-877-275-3342).




Last Updated 06/23/2006 communications@fdic.gov