Public Statement - JIM MORGAN (2019-04-15)

Summary

This is a public warning notice issued by the British Virgin Islands Financial Services Commission on 15 April 2019. It alerts the public that an individual identifying himself as Jim Morgan has never been employed by or authorised to represent the Commission.

• Scheme described: Jim Morgan allegedly contacts individuals by email, falsely claiming to represent the Commission and offering to compensate them for investment losses.
• Method: He requests access to the individual's online bank account in order to process the purported compensation.
• Commission advice: The public is warned not to provide personal banking information or account access to third parties and is invited to report any information about this individual or others falsely claiming to represent the Commission.
• Legal basis: The statement is issued under Section 37A(2)(c)(i) of the Financial Services Commission Act, 2001.

The notice is informational and protective in nature; it does not create ongoing compliance obligations for regulated entities but warns the general public and industry about a fraudulent scheme.