New Frauds and Scams Web Page
March 29, 2001
Circular No. 11333

Initiating Our Free News Alert Service

To All Depository Institutions in the Second Federal Reserve District:

Frauds and Scams Web Page

We are pleased to announce that the Federal Reserve Bank of New York has added a new "Frauds and Scams" web page to its Internet web site. Criminals often invoke the name of the Federal Reserve in an attempt to give legitimacy to otherwise fraudulent transactions, financial instruments, investment opportunities, and fund raising proposals. The new "Frauds and Scams" web page is designed to provide you with useful information about these various fraudulent activities and scams, and thereby reduce their potential to cause serious loss or harm to the banking industry and the public. The following URL will take you directly to the new page: Your assistance is appreciated.

News Alert Service

We can alert you by e-mail, if you wish, to changes in the Frauds and Scams web page, and to all other noteworthy news and events that may be important to you or your organization, including important speeches and this Bank's press releases. This new service is similar to our Circular Alert Service, through which we notify subscribers to the issuance of new circulars. The service is free of charge, and subscriptions to the service may be made at any time; just go to: