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Special Alerts

SA-318-2007
December 21, 2007


TO: CHIEF EXECUTIVE OFFICER (also of interest to Security Officer)
SUBJECT: Anishinabe Wampum (Bank), Sharbot Lake, Ontario, Canada, Reportedly Distributing Literature Stating It Is "The First Algonquin Bank of the Sharbot Lake Region"
Summary: The Office of the Superintendent of Financial Institutions of Canada has issued a warning notice stating that Anishinabe Wampum (Bank), Sharbot Lake, Ontario, Canada, is claiming that it is a bank in the Sharbot Lake Region and is offering banking services in Canadian federal currency. This entity is not a bank organized under the Bank Act (Canada) nor is it an authorized bank under that act.

The Office of the Superintendent of Financial Institutions (OSFI) of Canada has published the attached "Warning Notice" (Issue No. 79), which states that the Anishinabe Wampum (Bank), Sharbot Lake, Ontario, Canada, is distributing literature stating that it is "the first Algonquin Bank of the Sharbot Lake Region. It offers banking services in ...Canadian Federal currency. The Anishinabe Wampum offers basic savings accounts ...as well as joint venture partnership returns on larger deposits." The Web address for this entity is www.anishinabewampum.com.

This entity is not a bank organized under the Bank Act (Canada) nor is it an authorized bank under that act. Accordingly, OSFI does not supervise this entity and states that caution should be used in any dealings with this entity. OSFI's warning notice states that the "entity has been requested to stop holding itself out as a bank, but has made no response."

To report information concerning this entity, please contact Phonebusters, which is a joint partnership between the Ontario Provincial Police and the Royal Canadian Mounted Police. In addition, 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

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 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.

Questions 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 http://www.fdic.gov/news/news/specialalert/2007/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
Director
Division of Supervision and Consumer Protection

Attachment: Can be found at http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_79_e.pdf - PDF (PDF Help)

Distribution: FDIC-Supervised Banks (Commercial and Savings)

Paper copies of FDIC Special Alerts may be obtained through the FDIC's Public Information Center, 1-877-275-3342 or 703-562-2200).




Last Updated 12/21/2007 communications@fdic.gov