Previous Document IconPrevious Info Memo

Next Document IconNext Info MemoExam Manual Table of Contents IconList of Info Memos

Informational Memorandum
Subject:SPECIAL ALERT - Potentially Fraudulent Activity
Date of Memorandum:09/25/2001
Expiration Date:
Signed By:Smith, Roland
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
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.”