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Special Alerts

SA-170-2005
November 22, 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" (Issues No. 62 and No. 63), which contain the names of entities recently brought to OSFI's attention.

Warning Notice No. 62 names two entities - Transbanc Capital Corporation, Calgary, Alberta (www.transbanc.net); and Depository Financial Services, Toronto, Ontario (www.dfinservices.com) - that are not authorized federally regulated financial institutions (Canadian) and may connected with advance fee or "Nigerian letter" scams (see OSFI's Warning Notice No. 23, dated February 2002). These entities, or persons purported to represent 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.

Warning Notice No. 63 states that Guaranty Bank & Trust Company Limited has been removed from the Warning List. This entity was included on Cumulative Warning Circular No. 16 in January 1995.

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. 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.

Christopher J. Spoth
Acting 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_62_e.pdf

http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_63_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 11/22/2005 communications@fdic.gov