Warning against Bank Of Family

Investor warning

This statement is made in order to warn investors and others against dealing with unauthorised financial services providers.

The person named below has not received authorisation to conduct deposit-taking business within the meaning of the Banking Business Law.

Bank Of Family, or
Bank Of Family International, or
Bank Of Family International Limited, or
Bank Of Family Bank International Limited

(“Bank Of Family”)

www.bankoffamily.com (the “Website”)

It appears to the Commission that Bank Of Family, as described on the Website, is carrying on or holding out that it is carrying on deposit-taking business in Jersey when it is not authorised to do so pursuant to the provisions of the Banking Business Law. Further, it appears from the documentation held by the Commission that Bank Of Family is attempting to utilise the website content, address and telephone numbers of HSBC Bank International Limited; a bona-fide registered financial services provider in Jersey and other jurisdictions. Bank Of Family and the Website are not connected in any way to HSBC Bank International Limited or companies within the HSBC Group.

The Commission wishes it to be known that:

1. Bank Of Family has never been registered, nor applied for registration, under the Banking Business Law. Therefore    any deposit-taking business, as defined in Article 3 of the Banking Business Law and carried out by Bank Of Family since 1 October 1991, is in breach of Article 8 of the Banking Business Law;

2. Bank Of Family is not connected in any way to HSBC Bank International Limited and companies within the HSBC    Group. The HSBC Group has headquarters in London, England and has a presence in various jurisdictions including Jersey. HSBC Bank International Limited and companies within the HSBC Group are authorised by the Commission to    conduct regulated activities; and

3. From documentation held by the Commission, it would appear that Bank Of Family and the Website display warning signs of being set up for a fraudulent purpose.

All regulated businesses in Jersey are listed on the Commission’s website at the following address: www.jerseyfsc.org/the_commission/regulated_entities/index.asp

Any person who has had dealings with Bank Of Family is requested to contact the Commission.

Jersey Financial Services Commission
14 – 18 Castle Street
St. Helier
Jersey
JE4 8TP

Contact: Barry Faudemer - b.faudemer@jerseyfsc.org