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been withdrawn and voided.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.
Nicholas J. Ketcha Jr.
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)