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SPECIAL ALERT

BSA/AML, OFAC and Fraud
May 25, 2000

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

The Federal Deposit Insurance Corporation (FDIC) has learned that the State of Indiana Department of Financial Institutions has identified additional entities that may be conducting banking business in the United States illegally or without authorization. These names should be added to those listed in FIL-18-2000, dated March 21, 2000.

As with those listed in FIL-18-2000, the State of Indiana Department of Financial Institutions has not issued banking licenses to the following entities, and they are not authorized to conduct banking business in the state:

  • Allied Bank of the USA, Inc.
  • Andersen Commercial Bank, Inc.
  • Bank First Corporation, Inc.
  • Bank One Corporation, Inc.
  • EFC Bank, Inc.
  • First International Bank The Americas, Inc.
  • Foster International Bank, Inc.
  • Monaco Bank of Trade, Inc.

Proposed transactions involving any of these entities should be viewed with extreme caution. Please forward any information you may have about them to Ms. Gina Williams, State of Indiana Department of Financial Institutions, 402 West Washington Street, Room W066, Indianapolis, Indiana 46204. You also may contact Ms. Williams at (317) 232-3955.

NOTE: The names of these and other entities that may be operating in the United States without authorization are often intentionally selected by the "owners" to closely resemble or copy the names of legitimate institutions. Any attempt by the FDIC to provide a list of legitimate domestic and foreign financial institutions with the same or similar names would involve an extensive listing of possible matches. Therefore, if you have any doubt about the federally insured status of any bank operating in the United States, you may check the FDIC's database of insured institutions at www2.fdic.gov/structur/search/findoneinst.asp for verification. You also may contact the state financial institution regulatory agency in the state where the entity is allegedly headquartered.

Any information concerning these entities also may be forwarded 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 institution 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: May 25, 2000