Alert 1995-7 | March 8, 1995

Suspicious Transactions: Guarantee Instruments

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; Conference of State Bank Supervisors; Deputy Comptrollers (Districts); District Administrators; District Counsel and Examining Personnel

Information has been received that the Government of the Cook Islands issued a number of guarantee instruments in amounts of USD50 million and USD100 million. These instruments are dated between May 11, 1994 and October 24, 1994, and indicated that they are payable to the order of Hanworth Securities Limited, 55 Frederick Street, Nassau, Bahamas or to Hanworth Securities Limited, incorporated in Western Samoa.

The Government of the Cook Islands has advised that all such instruments were cancelled between September 1994 and December 1994.

At this time it has not been ascertained if any such unauthorized instruments are in circulation. Extreme caution is advised relative to this matter. Any information which you may have concerning these instruments should be brought to the attention of:

Office of the Comptroller of the Currency
Enforcement & Compliance Division
250 E Street, S.W.
Washington, D.C. 20219
Fax (202) 874-5301

Daniel P. Stipano
Director
Enforcement & Compliance Division

Topic(s):

Suspicious Activity Reports (SAR)