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SPECIAL ALERT

BSA/AML, OFAC and Fraud
March 9, 2001


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 entities may be conducting banking business in the United States without authorization. The OCC has not granted a national charter to these entities, and the New York State Banking Department has advised that the entities have not been granted permission to operate in New York. Proposed transactions involving these entities should be viewed with extreme caution. The entities are:

  • British Bank of Commerce
    a.k.a. British Bank of Trade and Commerce
    499 Park Avenue, Suite 621
    New York, New York 10022

  • Chase (Trust) Bank
    365 Madison Avenue
    New York, New York 10002
    (Not associated with Chase Manhattan Bank of New York or any of Chase
    Manhattan Bank of New York's subsidiaries or affiliates.)

Any information about this matter should be brought to the attention of:
    New York State Banking Department
    Criminal Investigations Bureau
    2 Rector Street
    New York, NY 10006
    Phone: 212-618-6581 Fax: 212-618-6588

Information about 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 "Newsroom, Events & FOIA."

Michael J. Zamorski
Acting 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 3/09/2001 communications@fdic.gov

Last Updated: March 9, 2001