BNP Online Bank (the impersonating entity) (2021-12-15)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning that an entity falsely trading as 'BNP Online Bank' from an address in St Helier, Jersey, is not authorised or registered to carry on deposit-taking or lending business in Jersey. It clarifies that this impersonating entity has no connection to the genuine JFSC-regulated entity, BNP Paribas Securities Services S.C.A., Jersey Branch.

• Nature of warning: The impersonating entity is falsely purporting to carry on Schedule 2 lending and deposit-taking business in Jersey without JFSC authorisation or registration, in breach of Article 8 of the Banking Business (Jersey) Law 1991 and Article 10 of the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008.
• Repeat offender: Similar public statements about the same impersonating entity were previously issued by the JFSC on 29 July 2013, 30 May 2018 and 18 May 2020.
• No connection to genuine entity: The impersonating entity, its website and email address have no connection to the genuine Jersey-registered BNP Paribas Securities Services S.C.A., Jersey Branch.
• Fraud indicators: JFSC states the impersonating entity's website and email display warning signs consistent with being set up for a fraudulent purpose.

The statement does not impose any new regulatory requirements on licensed or authorised Jersey entities; it is a consumer protection warning. Anyone who has dealt with the impersonating entity is asked to contact the JFSC's Enforcement team.

Key obligations

• Any person who has had dealings with the impersonating entity is requested to contact the JFSC's Enforcement team.