Guidance To Financial Institutions Regarding Hurricane-Related Benefit Fraud

GuidanceOffice of Thrift Supervision (OTS)Identity Theft

This Advisory warns financial institutions about the potential for fraudulent transactions involving hurricane relief monies. To assist law enforcement, we request that financial institutions include key terms in the narrative portions of all Suspicious Activity Reports filed relating to possible hurricane relief fraud schemes.

In the wake of the devastating Hurricanes Katrina, Rita, and Wilma that struck during the past year, an unusually large amount of emergency financial assistance has been distributed to storm victims in many parts of the country. The Department of Justice’s Hurricane Katrina Fraud Task Force (“Task Force”), which Attorney General Alberto Gonzales established in September 2005, has been vigorously prosecuting all types of fraud relating to the three hurricanes.

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