Hugo De Rick (2020-10-22)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning that 'Hugo De Rick', operating via the website hdreurope.com, is a scam entity falsely claiming to carry on financial service business in Jersey without authorisation under the Financial Services (Jersey) Law 1998 (FS(J)L).

• No connection: The Scam Entity is not connected to the real Mr Hugo De Rick, who is a licensed insurance intermediary authorised in Belgium.
• Never registered: The Scam Entity has never registered, or applied to register, under the FS(J)L.
• Breach of law: Any financial service business carried out by the Scam Entity since 1 July 1999 is in breach of Article 7 of the FS(J)L.
• Fraud indicators: JFSC documentation suggests the Scam Entity and its website display warning signs of being set up for a fraudulent purpose.

The statement is issued under Article 25(d) of the FS(J)L to warn investors and the public not to deal with this unauthorised provider, and asks anyone who has received financial services from the entity to contact the JFSC.

Key obligations

• Persons who have received financial services from the Scam Entity are requested to contact the JFSC