Public Statement - Infinite Trust Bank
This statement is made in order to warn investors and others against dealing with unauthorised financial service providers that purport to have a connection with the Jersey Financial Services Commission.
Infinite Trust Bank
Infinite Trust Bank Limited
Infinite Trust Bank Investment Management Services
The Jersey Financial Services Commission (the "Commission") has issued this public statement under Article 22(2) of the Financial Services (Jersey) Law 1998, as amended (the "Financial Services Law"), Article 45B(2) of the Banking Business (Jersey) Law 1991, as amended (the "Banking Business Law") and Article 14A(2) of the Collective Investment Funds (Jersey) Law 1998, as amended (the "Collective Investment Funds Law").
The Commission believes that ITB is carrying on or holding out that it is carrying on financial service, banking and collective investment fund business, either in the Island of Jersey or elsewhere, and it is desirable to issue a public statement concerning ITB in the interests of the public.
The Commission is aware that some members of the public have recently received unsolicited facsimiles that have allegedly originated from the 'Jersey Financial Services Commission'.
1. The content of the facsimile states that final clearance has now been granted by the Commission to unspecified funds and the recipient of the facsimile is to contact the purported Head of Operations of the Commission's Operations Department, a Mr Chris Williams at firstname.lastname@example.org or by facsimile at 44-870-136-5769. Reference is made to ITB in this facsimile
2. A subsequent e-mail is sent by ITB that refers to the contents of the unsolicited facsimile, including further reference to the Commission, and offers to provide online banking facilities to receive the unspecified funds. An advance fee payment of £500 is requested by ITB to open an account to receive the fictitious funds. The e-mail message purports to be issued by Andrew Holmes of ITB using an e-mail address of email@example.com
3. The Commission wishes it to be known that it has issued no such communication, it does not have an Operations Department and it does not have an employee named Chris Williams. Therefore any reference to the Commission is fraudulent.
4. From the evidence provided to the Commission, ITB and its website display all the warning signs of being an advance fee fraud.
5. ITB have never been registered, or applied for registration, under the Banking Business Law, the Financial Services Law or the Collective Investment Funds Law in the Island of Jersey
6. All regulated businesses are listed on the Commission's web site at www.jerseyfsc.org.
Any person who has had dealings with ITB is requested to contact the Commission.
Jersey Financial Services Commission.
15 September 2004