Royal Investment Consortium (the scam entity) (2023-05-31)

Summary

This is a public statement issued by the Jersey Financial Services Commission (JFSC) warning the public about an unauthorised entity calling itself the Royal Investment Consortium. The JFSC states that this entity is not registered under the Banking Business (Jersey) Law 1991 and has never applied for authorisation to conduct deposit-taking business in Jersey.

• Unauthorised activity: The scam entity is purporting to have a business presence in Jersey and is carrying on, or holding itself out as carrying on, deposit-taking business without JFSC authorisation, in breach of Article 8 of the BB(J)L.
• Fraud warning signs: The JFSC notes that documentation, the entity's website, and its email address display warning signs consistent with fraudulent purposes.
• Public guidance: Members of the public are warned against dealing with this entity and are directed to check the JFSC's website for the list of all regulated businesses in Jersey.
• Reporting: Anyone who has had dealings with the scam entity is asked to contact the JFSC's Enforcement team.

This notice is purely informational and does not impose ongoing compliance obligations on regulated firms; it serves to alert the public and industry to a specific scam entity operating without authorisation.