AMB Amerbank - Advisory Warning

Summary

This is a public advisory issued by the British Virgin Islands Financial Services Commission warning that entities operating under the names AMB Amerbank, Amerbank Ltd, Antilles Merchant Bank Ltd, and Privaty Bank Ltd (often associated with individuals using the names Dr. C.H. Gronchi, B.H. Betronelli/Bertonelli, Mellencamp, and Thomas Floyd) are not licensed, incorporated or registered in the BVI. It is aimed at protecting the general public and industry from dealing with these unauthorised entities, which have been the subject of recurring inquiries received by the Commission.

• Not licensed: The named entities are not licensed to conduct banking business in or from within the British Virgin Islands.
• Not registered: The named entities are not incorporated or registered in the British Virgin Islands.
• Fictitious details: The Commission notes that arbitrary and fictitious information, such as postal addresses, incorporation dates, registration numbers and licence numbers, is sometimes used by these entities or associated persons.
• Verification advised: The public and industry are advised to always contact the Commission to verify the regulated status of any company purporting to be registered or authorised in the BVI.

This is an informational alert rather than a rule or regulation; it does not itself create ongoing compliance obligations for regulated entities, but serves as a caution to the public and financial institutions to exercise due diligence before dealing with the named parties.

Applies to

general public, persons dealing with purported banking entities