Public Statement 1 of 2022 - National Bank of the British Virgin Islands (2022-02-10)

Summary

This is a public warning notice issued by the BVI Financial Services Commission alerting the public that an entity calling itself National Bank of the British Virgin Islands is not licensed or regulated to conduct any financial services business in or from the BVI.

• The scam: National Bank of the British Virgin Islands is falsely passing itself off as National Bank of the Virgin Islands Limited, a genuine FSC-licensed bank.
• Method: It operates a fraudulent website (www.nabbvi.com) to advertise and solicit customers for banking, payment transaction and investment services.
• Legal basis: The FSC issued this statement under Section 37A of the Financial Services Commission Act, 2001.
• Public advice: Members of the public are urged to exercise extreme caution if solicited by this entity and to report any relevant information about questionable entities or improper activities to the FSC.

The notice does not create any ongoing compliance obligations for licensed financial services providers; it is informational, intended to protect consumers and support enforcement against an unauthorised operator.

Applies to

general public, unlicensed entity (National Bank of the British Virgin Islands)