Mclandish Offshore Bank (2010-10-08)

Summary

This is a public warning statement issued by the Jersey Financial Services Commission (JFSC) under Article 48(2) of the Banking Business (Jersey) Law 1991, alerting the public that 'Mclandish Offshore Bank' is not authorised to conduct deposit-taking business in Jersey.

• No authorisation: Mclandish Offshore Bank has never been registered, nor applied for registration, under the Banking Business Law, and has never been authorised to conduct deposit-taking business.
• Alleged breach: Any deposit-taking business carried out by Mclandish Offshore Bank since 1 October 1991 is said to be in breach of Article 8 of the Banking Business Law.
• Misuse of legitimate firm's content: The associated website appears to copy content from Fairbairn Private Bank Limited, a genuinely authorised Jersey financial services provider; the Commission confirms Mclandish Offshore Bank has no connection to Fairbairn Private Bank Limited.
• Possible fraud: The Commission states that documentation held indicates Mclandish Offshore Bank and its website display warning signs of being set up for a fraudulent purpose.

The Commission asks anyone who has had dealings with Mclandish Offshore Bank to contact it, and reminds the public that all genuinely regulated Jersey businesses are listed on the Commission's website. The statement is informational and does not impose ongoing regulatory obligations on licensed entities.

Applies to

unauthorised financial services providers, members of the public who may have dealt with the entity