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SPECIAL ALERT

BSA/AML, OFAC and Fraud
November 16, 2000

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Telemarketing Scam - Canadian Lottery

The Royal Canadian Mounted Police (RCMP) has asked the Federal Deposit Insurance Corporation (FDIC) to circulate to FDIC-supervised institutions the attached information about a Canadian lottery telemarketing scam. Although it does not appear that banks are the primary targets of this scam, banks risk potential losses if uncollected funds are advanced to customers who are the targets and victims of this scam.

Please circulate this information to all areas of the bank that may be affected . If you have any information concerning this scam, please contact the nearest office of the Federal Bureau of Investigation and have that office send copies of the information directly to RCMP's Project Colt in Montreal, Canada.

Information concerning this scam or similar scams also may be forwarded to the FDIC's Special Activities Section, 550 17th Street, NW, Room F-6012, Washington, DC 20429. For your reference, all FDIC Financial Institution Letters published since January of 1995 may be found on the FDIC's Web site at www.fdic.gov under "News, Events & FOIA."

Michael J. Zamorski
Acting Director

Attachment: Not available electronically

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).


Last Updated: November 16, 2000