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Alert 2006-38
Description: Bank of China, New York Branch

Counterfeit Bank Drafts of Bank of China, New York Branch, New York, NY

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; Director, Office of Thrift Supervision; Conference of State Bank Supervisors; Deputy Comptrollers (districts); Assistant Deputy Comptrollers; District Counsel; and All Examining Personnel

The above-named federal branch has reported that counterfeit bank drafts issued in the bank’s name and using a correct routing number of 026003269 are being presented for payment nationwide in connection with an upfront-fee scam.

While the counterfeit items bear a significant resemblance to the authentic items, counterfeit drafts may be identified by the following missing information: the words “AUTHORIZED SIGNATURES” under the signature line and the words “for BANK OF CHINA” under the dollar amount box. All counterfeit items presented to date show the “Issuing Office” as Bank of China, Beijing Branch.

Potential victims have received the counterfeit checks via U.S. Postal Service, with many of the mailings originating out of Africa. While some of the victims have agreed to share copies of correspondence with the bank, the bank has not yet received the material. According to some of the victims, they were asked to open a bank account with the check. They were further instructed to retain 10 percent of the check amount and remit the remaining balance back to the sender.

For additional information and guidance, please contact John Beauchemin, Chief Compliance Officer, Bank of China, 410 Madison Avenue, New York, NY 10017, by telephone at (212) 935-3101 ext. 267, by fax at (212) 829-7313 or via e-mail at [JBeauchemin@bocusa.com].

E-mail: occalertresponses@occ.treas.gov
Mail: Office of the Comptroller of the Currency
Special Supervision Division, MS 6-4
250 E Street, SW, Washington, DC 20219
Fax: (202) 874-5214
Internet: http://www.occ.gov

For additional information regarding other types of financial fraud, please visit the OCC's anti-fraud resource at:
http://www.occ.gov/topics/consumer-protection/fraud-resources/index-fraud-resources.html.

/signed/

Daniel P. Stipano
Deputy Chief Counsel