Alert 2003-14	
Alert	

Subject:      Unauthorized Banking
Description:  Effexbank—An Internet Bank

Date:         December 5, 2003

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

RE:  Effex Bank NA; Effex Bank Ltd; Effexbank Bank, Ltd; or, Effexbank 
     International Bank Limited, located electronically at 
     http://www.effexbank.com; (aka Effexbank.com), and physically at 
     350 Fifth Avenue, New York, NY  10118

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