FRAUDULENT WEBSITE - WWW.BANKOFNEVIS.COM (2021-01-16)

Summary

This is a public warning notice issued by the Bermuda Monetary Authority alerting consumers that www.bankofnevis.com is a fraudulent website falsely claiming to be a crypto bank operating from Bermuda and misusing the name of the real Bank of Nevis. The Authority confirms it has not licensed this entity and warns the public against dealing with it.

• No licence: The entity operating www.bankofnevis.com has not been granted any licence by the BMA.
• Legitimate bank: The genuine Bank of Nevis is found at www.thebankofnevis.com and is regulated by the Financial Services Regulatory Commission in Nevis.
• Offences cited: Conducting investment business without a licence is an offence under section 12 of the Investment Business Act 2003; conducting digital asset business without a licence is an offence under section 10 of the Digital Asset Business Act 2018.
• Warning list: The website has been added to the BMA's public warning list of unauthorised firms and individuals at www.bma.bm/warning-list.

The notice is purely informational and cautionary; it does not itself impose new compliance obligations on regulated entities, but warns the public that dealing with this fraudulent entity is at their own risk.

Applies to

members of the public, potential investors