The OCC today issued a statement about a supposedly Florida-based entity called Faith National Bank, which the OCC said is not authorized to conduct business as a national bank. According to its website, the unauthorized entity purports to offer credit and debit cards, mobile banking, FDIC-insured deposit accounts and loans; however, the entity is not listed by the FDIC as an insured institution. It also falsely includes on its website a number of individuals supposedly associated with the bank as staff or board members, many of whom are otherwise affiliated with legitimate banking organizations.
FinCEN issues alert on Iranian money laundering activities
FinCEN issued an alert to help financial institutions identify and stop funding streams and procurement networks supporting Iran’s Islamic Revolutionary Guard Corps.
