LANSING, Mich. (WOOD) — The Michigan Department of Insurance and Financial Services has ordered the shutdown of the website of a fake bank, which brands itself Ocean Wave Bank.
In April, DIFS issued a temporary cease-and-desist order against Ocean Wave Bank. The department’s investigation found no evidence that Ocean Wave Bank was a legitimate bank besides its website, according to a DIFS news release from Tuesday. The address on its website appeared to be a personal residence.
To check if banks and credit unions are legitimate, visit the Federal Financial Institutions Examination Council’s National Information Center.