Alert 2007-25| May 3, 2007
Unauthorized Banking: Ready State Bank of Panama
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: Ready State Bank of Panama
Alejandro Teran M, International Director
3327 South Bayshores Drive
Panama, FL 33456
The Office of the Comptroller of the Currency (OCC) has been advised by the Superintendecia de Bancos de Panama that the Ready State Bank of Panama is promoting several banking services and products, mainly in Caracas, Venezuela, through an office located in the State of Florida. Ready State Bank of Panama is not a banking entity authorized to engage in the banking business within or from the Republic of Panama.
The information contained at the website [www.readystatebank.com] pertaining to the Ready State Bank of Panama actually corresponds to a legal constituted banking entity that has no relation to them.
Any information that you may have concerning this matter should be brought to the attention of the Superintendencia de Bancos Republic de Panama:
Mail: Superintendencia de Bancos
Republic de Panama
Avenida Samuel Lewis
Torre HSBC – Pisos 8
Apartado Postal 0832-2397 WTC
Republic de Panama
Consumers who receive counterfeit or fictitious items and associated material should file complaints with the following agencies, as appropriate:
- U.S. Department of the Treasury, Office of Inspector General (OIG): by telephone at (800) 359-3898 or by visiting the OIG website.
- Federal Trade Commission (FTC): by telephone at (877) FTC-HELP or, for filing a complaint electronically, via the FTC's website.
- National Consumers League (NCL): by telephone at (202) 835-3323 or by email. To file a fraud complaint, visit the NCL fraud website.
- Better Business Bureau (BBB): The BBB system serves markets throughout Canada, Puerto Rico, and the United States and is the marketplace leader in advancing trust between businesses and consumers. The website offers contact information for local BBBs, objective reports on more than 2 million businesses, consumer scam alerts, and tips on a wide variety of topics that help consumers find trustworthy businesses and make wise purchasing decisions.
- Federal Bureau of Investigation Internet Crime Complaint Center (to report scams that may have originated via the internet).
- If correspondence is received via the U.S. Postal Service, contact the U.S. Postal Inspection Service by telephone at (888) 877-7644; by mail at U.S. Postal Inspection Service, Office of Inspector General, Operations Support Group, 222 S. Riverside Plaza, Suite 1250, Chicago, IL 60606-6100; or via the online complaint form.
Additional information concerning this matter that should be brought to the attention of the Office of the Comptroller of the Currency (OCC) may be forwarded to
Office of the Comptroller of the Currency
Special Supervision Division
400 7th St. SW, Suite 3E-218; MS 8E-12
Washington, DC 20219
Phone: (202) 649-6450
Fax: (571) 293-4925
For additional information regarding other types of financial fraud, please visit the OCC's anti-fraud resources page.
Richard C. Stearns
Director for Enforcement & Compliance