Eldridge Bank (the scam entity) (2021-10-22)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning the public about Eldridge Bank, an entity that is falsely claiming to be regulated by the JFSC and purporting to carry on investment business, deposit-taking business and lending activities. The entity has never been registered or authorised under the relevant Jersey financial services laws.

• No authorisation: Eldridge Bank has never applied for or received registration under the Financial Services (Jersey) Law 1998, the Banking Business (Jersey) Law 1991, or the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008.
• Breach of law: Any investment business, lending activities or deposit-taking business carried on by the entity breaches Article 7 of the FS(J)L, Article 8 of the BB(J)L and Article 10 of the Supervisory Bodies Law.
• Fraud indicators: Documentation, the website and email address associated with the entity display warning signs of being set up for fraudulent purposes.
• Reporting request: Anyone who has had dealings with the impersonating entity is asked to contact the JFSC's Enforcement team.

The statement is informational and enforcement-related rather than a rule change; it does not impose ongoing compliance obligations on regulated firms but serves as a public warning and a call to report contact with the scam entity.

Key obligations

• Anyone who has had dealings with the impersonating entity (Eldridge Bank) should contact the JFSC's Enforcement team.