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Alert 2004-22 | November 9, 2004

Unauthorized Banking: All Canadian Financial Co (ACFS) and Fairbank Group, Offshore Banking (FBGP), Unauthorized Internet Banks


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

RE: All Canadian Financial Co (ACFS)
Yorkdale Shopping Centre
3401 Dufferin Street, Toronto, ON M6A 2T9
(416) 507-9818
Fairbank Group, Offshore Banking (FBGP)
95, du Bras, St-Raphael (Qc)
GOR 4C0, Quebec
(800) 587-1822

The Office of the Comptroller of the Currency has been advised that the above-referenced entities are actively engaged in offering a full range of deposit and banking services via the Internet. The Office of the Superintendent of Financial Institutions Canada has advised the OCC that neither All Canadian Financial Co nor Fairbank Group, Offshore Banking have been authorized to conduct the business of banking or provide banking-related services in or from Canada.

Any information that you may have concerning either of these entities should be brought to the attention of the:

Mail: Office of the Superintendent of Financial Institutions Canada (OSFI) Compliance Division
121 King Street West Toronto,
Ontario M5H 3T9
Telephone: 416-973-6117
Fax: 416-954-3169

If you have any questions about this alert or desire to provide information to the OCC, contact:

Mail: Office of the Comptroller of the Currency Enforcement & Compliance Division,
MS 8-10
250 E Street, SW,
Washington, DC 20219
Fax: (202) 874-5301

Brian C. McCormally Director
Enforcement & Compliance Division