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Special Alerts

SA-6-2006
January 19, 2006


TO: CHIEF EXECUTIVE OFFICER (also of interest to Security Officer)
SUBJECT: Euro Trust Corporation May Be Conducting Banking Operations
in Canada or the United States Without Authorization;
Colonial Bank Limited Removed From OSFI's Cumulative Warning List
Summary: Euro Trust Corporation, Canada, may be illegally operating as a financial institution. In addition, the Office of the Superintendent of Financial Institutions (OSFI) of Canada has removed Colonial Bank Limited from its Cumulative Warning List.

The Office of the Superintendent of Financial Institutions of Canada has published the attached "Warning Notice" (Issue No. 67), which names Euro Trust Corporation as an entity recently brought to OSFI's attention.

Warning Notice No. 67 states that Euro Trust Corporation, Laval, QC, is not an authorized federally regulated financial institution (Canadian) and may be involved in advance fee scams (see OSFI's Warning Notice No. 23, dated February 2002). This entity is associated with a lottery scam involving victims receiving counterfeit checks drawn on Bank of America.

In addition, OSFI has removed Colonial Bank Limited from the Cumulative Warning List.

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/2006/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

Attachment: Can be found at http://www.osfi-bsif.gc.ca/app/DocRepository/1/eng/consumer/notices/Warning_Notice_67_e.pdf 110k (PDF help)
Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC Special Alerts may be obtained through the FDIC's Public Information (1-877-275-3342).




Last Updated 01/19/2006 communications@fdic.gov