Several bank trade groups applied to control the domains ".bank" and ".insurance." The advocates filed applications with the Internet Corporation for Assigned Names and Numbers, which oversees the internet domain naming system. Concerned about fraud, the industry groups want to insure that the .bank and .insurance domains are used only by banks and insurance companies. The initiative is an international collaboration involving the American Bankers Association, the Independent Community Bankers of America and bankers associations and regulators in Australia and Europe. The domain name designations will be limited to companies chartered by their home country financial regulators; other financial entities will be audited to insure compliance with registration requirements.