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Alert 2003-14
Description: Effexbank - An Internet Bank

Unauthorized Banking: Effexbank - An Internet Bank

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); Assistant Deputy Comptrollers; District Counsel and Examining Personnel

The Office of the Comptroller of the Currency (OCC) has received information that the entity above may be operating a banking business without authorization. The information contained on its Web site includes the use of “NA” in one title and states that it has insurance issued by the Federal Deposit Insurance Corporation. Current contact information is limited to e-mail addresses and one United Kingdom mobile phone number.

The OCC has not granted a national bank charter to this entity and the Federal Deposit Insurance Corporation has not granted deposit insurance to any entity with this name. None of the listed entities have been granted authority to operate in the United Kingdom or the State of New York.

Any information that you may have concerning this matter should be brought to the attention of :

Mail: Office of the Comptroller of the Currency Enforcement & Compliance Division,
MS 8-10
250 E Street, SW,
Washington, DC 20219
Fax: (202) 874-5301
Internet: http://www.occ.treas.gov
E-mail: occalertresponses@occ.treas.gov

Brian C. McCormally
Director,
Enforcement & Compliance Division