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The Office of the Superintendent of Financial Institutions (OSFI) of Canada has published a "Warning Notice" (Issue No. 87) containing the name Securities Associates Group. This Warning Notice can be found at http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_87_e.pdf - PDF (PDF Help).
Securities Associates Group is currently being investigated by the Financial Services Authority of the United Kingdom regarding unauthorized regulated activities. It appears that the proceeds from activities conducted by Securities Associates Group, which is not authorized to carry on business in the United Kingdom, are being paid into banks that are domiciled in Canada. Securities Associates Group purports to operate from New York, USA. Any person contacted by this entity should contact the Royal Canadian Mounted Police or his or her local police department. Canadian financial institutions should regard any accounts or transactions associated with Securities Associates Group as potentially suspicious.
Any information you have concerning this matter should be brought to the attention of following authorities:
Office of the Superintendent of Financial Institution Canada
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 firstname.lastname@example.org. 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 website at www.fdic.gov/news/news/SpecialAlert/2009/index.html. To learn how to automatically receive FDIC Special Alerts through e-mail, please visit www.fdic.gov/about/subscriptions/index.html.
Distribution: FDIC-Supervised Banks (Commercial and Savings)
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