OFFICE OF THE CONTROLLER
June 11, 1997
ALL AT UCSD
SUBJECT: Alert Regarding Potential Bank Account Scams
It has recently come to our attention that a number of fax machines have been in receipt of communications, supposedly from foreign countries, offering substantial commissions in the millions of dollars, for use of personal or business bank accounts through which to transfer funds from foreign countries.
Please be aware that these offers could be arrangements to launder money obtained through illegal means. These arrangements could also provide the perpetrators with sufficient banking information to drain and overdraw any personal or business bank accounts. Being a party to the transactions being proposed could expose any individual to substantial risk of personal loss and legal sanctions.
With the wide use of the internet and other communication means, such as fax, it is impossible to prevent individuals from being exposed to these types of "legitimate looking," but potentially extremely hazardous, transactions.
We highly recommend that in all such cases, you apply the old adage of "If it looks too good to be true, it probably is!" Please be alert to these communications and protect yourself and your colleagues from potential personal loss and unwitting involvement in illegal activities.
Don Larson
Controller