VIP BANK, INC. - Advisory Warning No. 3 of 2010 (2010-07-26)

Summary

This is a public advisory issued by the British Virgin Islands Financial Services Commission warning that VIP BANK, INC. is not incorporated, registered, or licensed in the British Virgin Islands, despite representing itself online as being so. The Commission issued the warning after becoming aware that the entity was soliciting investment opportunities via its website while falsely claiming BVI incorporation, registration and licensing.

• Warning: VIP BANK, INC. is not and has never been incorporated, registered or licensed by the Commission to carry on financial services business in or from within the BVI.
• Public caution: Members of the public are advised to exercise extreme caution in conducting any transactions with VIP BANK, INC.
• Legal basis: The advisory is issued under Section 4(1)(l) of the Financial Services Commission Act, 2001.
• Call for information: The public is invited to provide the Commission with any relevant information on questionable entities purportedly operating in or from within the Territory.