| TO: |
CHIEF EXECUTIVE OFFICER
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| SUBJECT: |
Fraudulent Bank Instruments
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The Federal Deposit Insurance Corporation (FDIC) has learned
that banks have received inquiries about Bank Guarantee
instruments issued by the Reserve Bank of Vanuatu. A copy
of one such instrument is attached. The government of the
Republic of Vanuatu issued the attached press release on
July 26, 1996, indicating that all such instruments have
been withdrawn and voided.
We also have learned that fraudulent certificates of deposit, cashier's checks, bank guarantees and letters of credit are in circulation purportedly issued by the Israel Discount Bank, Ltd., 2875 N.E. 191 Street, Aventura/Miami, Florida 33180-2830. Many of the instruments are in amounts in excess of $1 million. Any information concerning these instruments should be forwarded to the FDIC's Special Activities Section, 550 17th Street, N.W., Room F-612, Washington, D.C. 20429.
Attachments can be obtained from the FDIC Public Information Center, 801 17th Street, NW, Room 100, Washington, D.C. 20434, (703) 562-2200. Distribution: FDIC-Supervised Banks (Commercial and Savings) |