Date: August 19, 2002
Internet Banking Fraud: Fictitious Digital Investment Certificates
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; Conference of State Bank Supervisors; Deputy Comptrollers (districts); Assistant Deputy Comptrollers; District Counsel and Examining Personnel
The Canada Deposit Insurance Corporation (CDIC) has advised North American investors and depositors of an apparent Internet fraud scam falsely involving CDIC. A person or group of persons carrying on business as the Maryland Investments Club is offering investment certificates called "digital investment certificates" for sale over the Internet. These certificates are purported to be held electronically and guaranteed in full, by the CDIC. This is not the case. The signature of CDIC’s general counsel, Gillian Strong, on any Maryland Investments Club documentation is a forgery. The certificates falsely bear the Government of Canada wordmark and the logo of the Canada Deposit Insurance Corporation.
Please see the warning notice at the CDIC Web site.
Any information that you have concerning this matter should be brought to the attention of:
Your local office of the Royal Canadian Mounted Police, and,
Director, Communications and Public Affairs
Canada Deposit Insurance Corporation
Phone: (613) 943-1971
Gerard J. Sexton
Assistant Director, Enforcement & Compliance Division