APS International Bank (2006-03-06)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning that an entity operating as APS International Bank (also using the names APS Bank, APS Group, APS Online Banking and the website www.apsgroups.com) is not authorised to conduct trust company business, deposit-taking business, or any financial service business in Jersey.

• No registration: APS International Bank has never been registered or applied for registration under the Financial Services (Jersey) Law 1998 or the Banking Business (Jersey) Law 1991.
• Alleged breaches: Any financial service business carried out by APS International Bank since 1 July 1999 breaches Article 7 of the Financial Services Law; any deposit-taking business carried out since 1 October 1991 breaches Article 8 of the Banking Business Law.
• No connection to genuine entities: APS International Bank is unrelated to the genuine authorised credit institution APS Bank Limited (Malta) or to Advanced Payment Solutions Limited (UK).
• Public warning purpose: The statement is issued under Article 25 of the Financial Services Law and Article 48 of the Banking Business Law to warn investors and others against dealing with this unauthorised provider.

The Commission asks anyone who has had dealings with APS International Bank to contact it, and points readers to its website for a list of genuinely regulated businesses in Jersey.

Key obligations

• Any person who has had dealings with APS International Bank is requested to contact the Commission.