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Informational Memorandum
Subject:Rescission of "SPECIAL ALERT -Potentially Fraudulent Activity" Requirement
Date of Memorandum:01/29/2004
Expiration Date:
Office:OE
Signed By:Smith, Roland
FCA Contact Person:Holland, Tom
Contact Phone:703-883-4484
List of Attachments:



INFORMATIONAL MEMORANDUM

January 29, 2004


To: The Chief Executive Officer
All Farm Credit System Institutions

From: Roland E. Smith, Director
Office of Examination

Subject: Rescission of “SPECIAL ALERT – Potentially Fraudulent Activity”
Requirement


On September 25, 2001, the Farm Credit Administration issued an Informational Memorandum (IM) titled “SPECIAL ALERT – Potentially Fraudulent Activity.” This IM reported that Farm Credit System (FCS) institutions had periodically received letters soliciting participation in a potentially fraudulent activity (requests to transfer Nigerian Government funds to a private account in exchange for receiving a portion of those funds or any other similar inducements). The IM directed FCS institutions to forward such letters to “appropriate Federal law enforcement authorities even if the letters do not evidence a criminal violation.”

We have been informed that Federal law enforcement authorities (Secret Service, Federal Bureau of Investigation, and U.S. Attorney’s Office) no longer require the forwarding of such letters. Therefore, the subject IM is rescinded.

If you have any questions about this memorandum, please call Tom Holland at 703-883-4484 or correspond on the Internet at hollandt@fca.gov.