Sprinvales Standard Bank (2014-01-02)

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 an unauthorised entity calling itself Sprinvales Standard Bank, operating via the website www.ch.sprinvalesch.com.

• Not authorised: Sprinvales has never been registered or applied for registration under the Banking Business Law and is not authorised to conduct deposit-taking business in Jersey.
• No connection to genuine bank: Sprinvales and its website have no link to Standard Bank Jersey Limited, which is a genuine JFSC-authorised entity based at Standard Bank House, St Helier.
• Suspected breach: Any deposit-taking business carried out by Sprinvales is said to breach Article 8 of the Banking Business Law.
• Fraud warning: The Commission states that documentation held suggests Sprinvales and its website show warning signs of being set up for a fraudulent purpose.
• Action requested: Anyone who has had dealings with Sprinvales is asked to contact the Commission.

This statement is purely informational and protective in nature, aimed at warning investors and the public rather than imposing ongoing compliance obligations on regulated firms.