A bogus Florida bank is swindling consumers across the country with a fraudulent credit card scheme, according to the Office of the Comptroller of the Currency.
The fake organization, which goes by the name of AmTrade International Bank, sends consumers offers for semi-secured credit cards in the U.S. mail, the OCC said in a Wednesday warning. The offers instruct victims to send checks in amounts ranging from $500 to $900 in order to receive the card, which is framed as a means of rebuilding poor credit. The checks get cashed, but the cards never arrive.
Although the solicitations sometimes mention that Credit One Bank is associated with the credit card program, the Las Vegas company has no connection with AmTrade, the OCC said.
AmTrade purports to be located in Ft. Lauderdale, Fla. Both its website and toll-free telephone number are no longer in service.
The OCC believes the credit card scam is directly connected to a scheme in which a company called Freedom 1st National Bank sends victims fake credit card offers. Freedom 1st also claims to be associated with Credit One and lists a Ft. Lauderdale address. Regulators issued a warning about the Freedom 1st Scam in August.