AIB Private Bank (Jersey) Limited/AIB Online/AIB Plc (2004-05-21)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) on 21 May 2004, cautioning investors and the public against dealing with AIB Private Bank (Jersey) Limited, AIB Online and AIB Plc, entities represented by the website www.aibonlinenet.com.

• No registration: The named entities have never been registered, or applied for registration, under the Financial Services (Jersey) Law 1998 or the Banking Business (Jersey) Law 1991.
• Unlawful activity alleged: Any financial service business conducted since 1 July 1999, or deposit taking business conducted since 1 October 1991, by these entities is stated to be a breach of the respective laws.
• False Jersey presence: The AIB Online website falsely implies it has an office in Jersey.
• No connection to genuine AIB business: The named entities are not connected to the genuine, authorised banking and investment business of AIB Bank (CI) Limited in Jersey.

The statement was issued under Article 22 of the Financial Services (Jersey) Law 1998 and Article 45B of the Banking Business (Jersey) Law 1991. It requests that anyone who has had dealings with these entities contact the Commission, but it does not impose ongoing regulatory obligations on any authorised entity.