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Informational Memorandum
Subject:Counterfeit Cashier's Checks, etc.
Date of Memorandum:09/26/1997
Expiration Date:
Office:OE
Signed By:Glenn, Thomas for R.Smith
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
List of Attachments:OCC Alerts 97-19
97-20
97-18
97-21
97-22
and 97-24

INFORMATIONAL MEMORANDUM



September 26, 1997


To: The Chief Executive Officer
All Farm Credit System Institutions

From: Roland E. Smith, Director /s/ Thomas M. Glenn for
Office of Examination

Subject: Memorandum Advising of Counterfeit Cashier's Checks, Worthless Letters of Credit, and Unauthorized Banking Entities


The Farm Credit Administration (FCA) is distributing copies of six recent OCC Alerts issued by the Office of the Comptroller of the Currency (OCC). These documents contain information that may prevent you or your institution from suffering a financial loss.

OCC Alert 97-19 warns that counterfeit cashier's checks drawn on First National Bank and Trust, Monroe, Wisconsin, have been found in circulation. The OCC Alert includes a copy of one of the counterfeit instruments as well as one of the institution's legitimate cashier's checks. OCC Alert 97-20 provides information regarding a worthless Letter of Credit that has been received by commercial banks. The instrument is on the Ford Motor Company and appears to be originated by “Robert Phillip:, Moore Junior,” of Honolulu, Hawaii. The OCC Alert includes a copy of the worthless instrument. OCC Alerts 97-18, 97-21, 97-22, and 97-24 identify entities that may be operating banking businesses without authorization. The OCC Alerts include contact telephone numbers and addresses should you have any information regarding the financial instruments or the unauthorized banking entities.

This memorandum complements similar OCC Alerts and other information previously distributed by the FCA to Farm Credit System institutions and should be retained for reference. If you have questions regarding this document or similar previous documents, please call Tom Holland in the Office of Examination at (703) 883-4483.

Attachments