Subject: Counterfeit Cashier's Checks
Date: October 24, 2005
Description: Valley National Bank
Counterfeit Cashier’s Checks of Valley National Bank, Wayne, NJ
To: Chief Executive Officers of All National Banks; All State Banking Authorities; Chairman, Board of Governors of the Federal Reserve System; Chairman, Federal Deposit Insurance Corporation; Director, Office of Thrift Supervision; Conference of State Bank Supervisors; Deputy Comptrollers (districts); Assistant Deputy Comptrollers; District Counsel; and All Examining Personnel
The above-named bank has reported that counterfeit cashier’s checks issued in the bank’s name are being presented for payment. These checks are being mailed nationwide in lottery-related scams.
The counterfeit checks may be identified by the following: printed on a blue or other safety stock computer check paper with a dark border at the top that includes the notice: “This document has a graduated background dark to light. The reverse side includes an artificial watermark.” The bank’s name appears in both the top left corner and top left center of the check; however, the bank’s logo is missing. A remitter line appears below the bank name header, and the sections entitled date and pay to the order of as well as the dollar amount areas are underscored. The term “CASHIER’S CHECK” is printed in the bottom left portion of the check and a notice: “SIGNATURE HAS A COLOURED BACKGROUND,” is printed under the signature line in the bottom right portion of the check. While some of the counterfeit items contain the bank’s correct ABA number of 022000868 and correct address of 1460 Valley Road, Wayne, NJ 07470, others contain an incorrect ABA number of 021201383, an incorrect address of 211 Main Avenue, Passaic, NJ 07055, and a fraudulent telephone number of 1-877-570-2835.
Authentic cashier’s checks issued by the bank are light green in color with a ribbon border, contain the bank’s routing number of 022000868, and include a top border notice that states: “HOLD DOCUMENT UP TO THE LIGHT TO VIEW TRUE WATERMARK.” The bank’s logo, name, and address appear in the top left portion of the check. The correct address is 1460 Valley Rd., Wayne, N.J. 07470. The term “OFFICIAL CHECK” is enclosed in a box in the top center portion of the check, and the statement “Issued by Integrated Payment Systems Inc., Englewood, Colorado To Citi bank, N.A., Buffalo, NY” appears in the bottom left portion of the check. There is a statement “COUNTER SIGNATURE REQUIRED IF DRAWN FOR MORE THAN $2500.00” located above “Drawer: Valley National Bank” and two signature lines. There is a security logo of a lock and the notice “Security Features Details on Back” located on the right center portion of the check, and the only element of the check that contains underscoring is the “Authorized Signature” portion.
You can verify the authenticity of Valley National Bank’s cashier’s checks by contacting Integrated Payment Systems Inc. at 1-800-223-7520 or Peter Pellegrino, first vice president & security officer, at 1455 Valley Road, Wayne, NJ 07470, by telephone at (973) 305-4009, by fax at (973) 686-1631, or via e-mail at [email@example.com].
Additional information concerning this matter that you believe should be brought to the attention of the OCC may be forwarded to:
Brian C. McCormally