|Subject:||SPECIAL ALERT - Potentially Fraudulent Activity|
|Date of Memorandum:||09/25/2001|
|Expiration Date:|| |
|Signed By:||Smith, Roland|
|FCA Contact Person:||Holland, Tom|
|List of Attachments:||Nigerian Letter|
September 25, 2001
To: The Chief Executive Officer
All Farm Credit System Institutions
From: Roland E. Smith, Director
Office of Examination
Subject: SPECIAL ALERT – Potentially Fraudulent Activity
For several years Farm Credit System (FCS) institutions have periodically received letters soliciting participation in a potentially fraudulent activity. The letters were purportedly from an official of the Nigerian Government requesting assistance to transfer Nigerian Government funds to a private account in exchange for the FCS institution receiving a percentage of these funds.
The Farm Credit Administration (FCA) recently became aware that a similar type message was received by a FCS institution by electronic mail. A copy of that letter is attached for your review and reference.
FCS institutions should forward such letters to appropriate Federal law enforcement authorities even if the letters do not evidence a criminal violation, since they may relate to other criminal activities under investigation. For the reporting procedures, please refer to the FCA Examination Manual, Compliance Module, Section EM-640, entitled “Criminal Referrals” and Section EM-699, Supplement 1, entitled “FCA Criminal Referral Form and Instructions.”