The Federal Deposit Insurance Corporation (FDIC) has learned that fictitious checks using the ABA routing number and cashier's check account number of the California Chohung Bank, Los Angeles, California, are in circulation. The checks are drawn on "California Employees Federal Credit Union," 3042 W. Olympic Blvd., Los Angeles, California. The "California Employees Federal Credit Union" does not exist.

The checks presented to date have been used to make payments to credit card issuers. Although those institutions have been the initial targets for these items, other financial institutions also may be at risk, particularly in the new accounts area.

A photocopy of two of the checks is attached for your information. Please circulate this information to your bank's security officer and to all departments that may be affected.

Information concerning these checks or similar items 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."

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).