Michal Davis and Michael Berg (Public Statement) (2018-11-13)

Summary

This is a public statement issued by the British Virgin Islands Financial Services Commission warning the public about a scam involving two individuals, Michal Davis and Michael Berg, who have never been employed by or authorised to represent the Commission.

• Scheme described: Michal Davis and Michael Berg allegedly contact individuals claiming to represent the Commission and offer to compensate them for investment losses.
• Method: They request access to the individual's online bank account in order to facilitate the purported compensation.
• Commission advice: The public is advised to exercise extreme caution before providing personal banking information or account access to third parties.
• Reporting request: The public is invited to provide the Commission with any relevant information, including the identity of other individuals falsely claiming to represent the Commission.
• Legal basis: The statement is issued pursuant to Section 37A(2)(c)(ii) of the Financial Services Commission Act, 2001.

This is an informational public alert rather than a rule imposing compliance duties on regulated entities; it warns consumers and the public about impersonation fraud and encourages vigilance and reporting.