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Alert 2013-20
Description: AmTrade International Bank

Unauthorized Banking: AmTrade International Bank

To: Chief Executive Officers of All National Banks and Federal Savings Associations; All State Banking Authorities; Chairman, Board of Governors of the Federal Reserve System; Chairman, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; Deputy Comptrollers (Districts); Assistant Deputy Comptrollers; District Counsels; and All Examining Personnel

The Office of the Comptroller of the Currency (OCC) has been informed that an entity entitled AmTrade International Bank is involved in a scheme that involves soliciting consumers for semi-secured credit cards through the U.S. mail. Potential victims receive solicitations and program agreements, which may mention that Credit One Bank, N.A., is connected with the card agreement. Credit One Bank, N.A., has no connection to this entity. The victim is requested to submit a check payment in an amount ranging from $500 to $900 as a deposit to obtain a semi-secured credit card, with the understanding that he or she is entering into a program to rebuild poor credit. The check is cashed, but the victim never receives the anticipated credit card.

This fraudulent entity is purportedly located at 601 NE 11th Street, Suite #418, Fort Lauderdale, Fla. Both the Web site of www.AmTradeInternational.com and the associated telephone number of (800) 470-1082, which are provided within the AmTrade International Bank correspondence, are no longer in service.

It is believed that this scheme is directly connected to the scheme detailed in OCC Alert 2013-15, which may be viewed at http://www.occ.treas.gov/news-issuances/alerts/2013/alert-2013-15.html. Because of the possibility that variations on this scheme may be used, consumers should use caution when responding to any unsolicited correspondence, especially when an entity is requesting that funds be provided.

Additional information concerning this matter that should be brought to the attention of the Office of the Comptroller of the Currency (OCC) may be forwarded to

  E-mail: occalertresponses@occ.treas.gov
  Mail: Office of the Comptroller of the Currency
Special Supervision Division
400 7th St. SW, Suite 3E-218; MS 8E-12
Washington, DC 20219
  Fax: (202) 649-6450
  Web: www.occ.gov

For additional information regarding other types of financial fraud, please visit the OCC’s anti-fraud resource at www.occ.gov/fraudresources.htm.

 

Ellen M. Warwick
Director for Enforcement and Compliance

Related Links

Sample Fraudulent Document 1