Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
INACTIVE
This page is no longer active. Its content has expired or been rescinded by the FDIC.

SPECIAL ALERT

BSA/AML, OFAC and Fraud
December 5, 2002


TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Entities That May Be Conducting Banking Operations in Canada or the United States without Authorization
Summary: Guaranty Pacific Trust, African Development Bank, The North American Life Assurance Company, Pacific Financial Trust Company of Toronto, and Globe Trust Financial are not authorized to operate as financial institutions in Canada. The first three also may be part of various advance fee scams, while the latter three are not associated with the ABN AMRO Group.

The Office of the Superintendent of Financial Institutions (OSFI) of Canada has published the attached issue of its "Warning Notice" (Issue No. 37), which contains the names of entities recently brought to OSFI's attention through inquiries or complaints. Each "Warning Notice," beginning with Issue No. 4, and OSFI's latest cumulative "Warning List" may be found at http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=166.

If these entities, or persons purporting to represent them, are operating in Canada, they may be violating provisions of the Bank Act (Canada) or other Canadian federal financial institution regulations. They may also be conducting unauthorized banking transactions in the United States. Any proposed transactions involving these entities 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 Financial Institution Letters may be accessed from the FDIC's Web site at www.fdic.gov/news/financial-institution-letters/2002/index.html . To learn how to automatically receive FDIC Financial Institution Letters through e-mail, please visit http://www.fdic.gov/news/news/announcements/index.html .

Michael J. Zamorski
Director

Attachment (May be found at http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?ArticleID=166.)

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).


FIL-133-2002

Last Updated: December 5, 2002