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Special Alert

BSA/AML, OFAC and Fraud
January 4, 2000

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Entities That May Be Conducting Banking Operations in the United States Without Authorization

The Office of the Comptroller of the Currency (OCC) has advised us that the following entity may be conducting banking business in the United States without authorization. This entity has not been granted a national bank charter by the OCC, nor has it been granted permission by the Ohio Division of Financial Institutions to operate in Ohio. Proposed transactions involving this entity should be viewed with extreme caution. The entity is:

National State Bank in Ohio
Cleveland, Ohio

The OCC also has advised us that the license issued under the Offshore Banking Ordinance for the following company has been revoked by the Assistant Secretary, Financial Services Centre, Government of Montserrat, effective December 15, 1999:

Equity Bank and Trust Company Limited
Montserrat, West Indies
Please forward any information concerning these entities to the FDIC's Special Activities Section, 550 17th Street, NW, Room F-6012, Washington, DC 20429. For your reference, all FDIC Financial Institution Letters published since January of 1995 may be found on the FDIC's Web site at www.fdic.gov under "News, Events, FOIA."

James L. Sexton
Director

Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institutions letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).


Last Updated: January 4, 2000