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Special Alerts

April 10, 2006

TO: CHIEF EXECUTIVE OFFICER (also of interest to Security Officer)

Delivery of Special Alerts
Electronic Distribution to Become Primary Method

Summary: On June 1, 2006, the FDIC will begin using the electronic delivery of Special Alerts through its free secure Web site, FDICconnect as its primary method of distribution to insured financial institutions.

Beginning on June 1, 2006, the Federal Deposit Insurance Corporation (FDIC) will use electronic delivery – through FDICconnect, its free secure Web site – as its primary method for distributing Special Alerts (SAs) to insured financial institutions. FDICconnect provides a number of benefits, including:

  • An immediate e-mail notification that an SA has been issued. There is no need for routine manual checks of FDICconnect to determine whether a new SA has been issued.

  • The immediate availability of the SA. Through the traditional mail system, receipt of the paper copy typically takes a week or longer.

  • Secure transmission of the SA attachments, which are often confidential, such as electronic copies of fraudulent and genuine instruments.

  • The availability for multiple registrants from the same institution to receive SAs.

Approximately 45 percent of insured institutions already subscribe to receive SAs through FDICconnect. Those institutions that are not yet registered are encouraged to do so immediately using the instructions contained in FDIC FIL-32-2006. In addition, FIL-32-2006 provides more details about the change from paper-copy distribution to electronic delivery as the primary method of distributing SAs.

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 website 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.

  Sandra L. Thompson
  Acting Director
Division of Supervision and Consumer Protection

Distribution: FDIC-Insured Institutions

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

Last Updated 04/10/2006 communications@fdic.gov