Home > News & Events > Special Alerts




Special Alerts


SA-45-2003
August 1, 2003

TO: CHIEF EXECUTIVE OFFICER (also may be of interest to Security Officer)
SUBJECT: Deceptive Claims of FDIC Insurance Coverage
Summary: Fidelity Financial Trust, Amsterdam, the Netherlands, is falsely representing to potential customers on its Web site that it is a member of the FDIC.

The Federal Deposit Insurance Corporation (FDIC) was recently notified of an entity unlawfully advertising FDIC membership on its Internet Web site. The Web site is reportedly operated by Fidelity Financial Trust (FFT) and indicates that FFT's main office is located in Amsterdam, the Netherlands. The Web site includes the FDIC logo on its home page and throughout the site. Each logo links the user to the FDIC's Web site, www.fdic.gov. Please be advised that the FDIC does not insure this entity nor any products or services that it offers.

FFT has never received authorization from the Nederlandsche Bank and is not listed as a bank in the register pursuant to the Act on Supervision of the Credit System 1992. As a consequence, this institution is not subject to supervision exercised by the Nederlandsche Bank, which is the only institution that gives permits to financial institutions in the Netherlands. Further, the address provided on the Web site does not exist in the Netherlands and the phone number listed is a mobile phone. The Web site address for FFT is [URL no longer available]. Any proposed transactions involving FFT should be viewed with extreme caution.

Any information about these entities may be forwarded to the FDIC's Special Activities Section, 550 17th Street, NW, Room F-4040, Washington, DC 20429, or forwarded electronically to alert@fdic.gov.

For your reference, FDIC Special Alerts may be accessed from the FDIC's Web site at www.fdic.gov/news/news/SpecialAlert/2003/index.html. To learn how to automatically receive FDIC Special Alerts, Financial Institution Letters and other announcements through e-mail, please visit www.fdic.gov/news/news/announcements/index.html.

Michael J. Zamorski
Director

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, option 5, or (703) 562-2200).

Last Updated 08/01/2003 communications@fdic.gov