Subject: Unauthorized Banking
Date: October 10, 1997
Description: Focus International, Ltd.
Unauthorized Banking: Focus International, Ltd.
To: Chief Executive Officers of all National Banks; all State Banking Authorities; Chairman, Board of Governors of the Federal Reserve System; Chairman, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; Deputy Comptrollers (Districts); District Counsel and Examining Personnel
Information is being received that Focus International, Ltd. an offshore registration in Dominica, West Indies, operating from Antigua, West Indies, is soliciting deposits on the Internet. Such deposits do not have the protection of the Federal Deposit Insurance Company. Further, the subject entity is not authorized, supervised or regulated by any U.S. financial institution. The Idaho Department of Finance has issued a Cease and Desist Order.
It is urged that careful due diligence be conducted before any involvement occurs relative to this subject matter.
Any information which you may have concerning this matter should be brought to the attention of:
Office of the Comptroller of the Currency
Daniel P. Stipano