Alert 2013-20| September 25, 2013
Unauthorized Banking: AmTrade International Bank
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 Website 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.
Consumers who receive counterfeit or fictitious items and associated material should file complaints with the following agencies, as appropriate:
- U.S. Department of the Treasury, Office of Inspector General (OIG): by telephone at (800) 359-3898 or by visiting the OIG website.
- Federal Trade Commission (FTC): by telephone at (877) FTC-HELP or, for filing a complaint electronically, via the FTC's website.
- National Consumers League (NCL): by telephone at (202) 835-3323 or by email. To file a fraud complaint, visit the NCL fraud website.
- Better Business Bureau (BBB): The BBB system serves markets throughout Canada, Puerto Rico, and the United States and is the marketplace leader in advancing trust between businesses and consumers. The website offers contact information for local BBBs, objective reports on more than 2 million businesses, consumer scam alerts, and tips on a wide variety of topics that help consumers find trustworthy businesses and make wise purchasing decisions.
- Federal Bureau of Investigation Internet Crime Complaint Center (to report scams that may have originated via the internet).
- If correspondence is received via the U.S. Postal Service, contact the U.S. Postal Inspection Service by telephone at (888) 877-7644; by mail at U.S. Postal Inspection Service, Office of Inspector General, Operations Support Group, 222 S. Riverside Plaza, Suite 1250, Chicago, IL 60606-6100; or via the online complaint form.
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
Office of the Comptroller of the Currency
Special Supervision Division
400 7th St. SW, Suite 3E-218; MS 8E-12
Washington, DC 20219
Phone: (202) 649-6450
Fax: (571) 293-4925
For additional information regarding other types of financial fraud, please visit the OCC's anti-fraud resources page.
Ellen M. Warwick
Director for Enforcement and Compliance