Unlicensed Canadian entities
This notice is issued by the Financial Supervision Commission (“The Commission”) in accordance with the powers conferred upon it under Section 22 of the Financial Supervision Act 1988.
The Commission have been made aware that the Office of the Superintendent of Financial Institutions of Canada (OSFI) has issued a Warning Notice concerning entities claiming links with Canada, which are not authorized Canadian financial institutions.
OSFI also warn that the listed institutions are fictional entities and may be part of various advance fee scams.
The listed entities are: Kredit World Financial – 1404, Bloor Street, Toronto, Ontario, MIK 3M2
Central Credit Unions – First Canadian Place, King & Bay, Toronto, Ontario M5X 1K7 – (www.centralcreditunions.com) – (Not connected with any legitimate credit union, including Credit Union Centrals in Canada, or their affiliates)
Liberty Security and Finance Inc. – 100, City Centre Dr., Mississauga, Ontario L5B 2C9
Financial Trust Services – Montreal, Quebec
Bank Laurentian – 8785, Victoria Avenue, Suite 193, Montreal, Quebec H3W 2R3 – (www.geocities.com/banklaurentian) – (Not connected with Laurentian Bank of Canada, a legitimate bank, or its affiliates).
The Commission is drawing attention to these entities in order to assist the due diligence process of any of its licence holders which may have dealings with them. The Commission emphasises that this warning applies to the entities using the above listed details. You should note that there might be genuine institutions with names resembling those of the above entities. It is a common ploy of fraudsters to use names that are similar to those of genuine regulated entities. If you are in any doubt as to whether a financial entity is genuine, the Commission would recommend, as a first resort, verifying details with the relevant Regulatory Authorities in its claimed country of belonging.
A full list of entities on Warning Circulars, Notices or Advisories issued by OSFI is available on their web site at www.osfi-bsif.gc.ca/eng/publications/notices/index_warning.asp Financial Supervision Commission P.O. Box 58, Finch Hill House, Bucks Road, Douglas, Isle of Man, IM99 IDT Persons having queries regarding the Notice issued by OSFI may contact the OSFI Compliance Division by telephoning +1 416 973 6117 or by email to: [email protected] Licenceholders having any queries regarding this Commission Public Notice may address them to the Commission’s Enforcement Division on +44 1624 689313 or by email to [email protected]