JFSC Public Statement: www.natwestint.net.ms/ (2013-02-19)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) under Article 48(2) of the Banking Business (Jersey) Law 1991, warning the public about a website (www.natwestint.net.ms) that falsely purports to represent NatWest Bank. The Commission states the site is not connected to RBS International Limited (trading as NatWest) or the RBS group, and that the entity behind it has never been authorised or registered to conduct deposit-taking business in Jersey.

• Nature of the warning: The website is unconnected to RBS International/NatWest and appears to be carrying on or holding out as carrying on unauthorised deposit-taking business in Jersey.
• Legal breach alleged: Any deposit-taking business conducted by the entity operating the website would breach Article 8 of the Banking Business Law, as it was never registered or applied for registration.
• Fraud risk: The Commission notes the website displays warning signs of being set up for a fraudulent purpose.
• Public action requested: Anyone who has had dealings with the website is asked to contact the Commission, and the public is reminded that all regulated businesses in Jersey are listed on the Commission's website.

This is an informational and cautionary notice rather than a rule change; it imposes no new compliance requirements on regulated entities but serves to alert the public and industry to a potential scam operation impersonating a licensed bank.

Key obligations

• Any person who has had dealings with the website is requested to contact the Jersey Financial Services Commission.