The Financial Service Authority has issued two warnings about two firms which are claiming to offer services on the island.
Neither company appears to be have legitimate links to the island.
One of the firms is trying to impersonate Investec Wealth.
The FSA said: “The impersonating entity is advertising deposit-taking business on social media. The Authority wishes it to be known that the impersonating entity is not regulated to conduct deposit-taking business, or any regulated or supervised activities in or from within the Isle of Man.
“Additionally, from documentation held by the Authority, the impersonating entity and email address display warning signs of being set up for fraudulent purposes.
“The Authority also wishes to confirm that the impersonating entity and email address are not connected in any way to the genuine entity Investec Bank (Channel Islands) Limited, which has a representative office in the Isle of Man or any other genuine Investec Group affiliate.”
Bogus
The second warning relates to a company, SAF Investments, which is claiming to have an address on Hill Street using the website www.safinvestments.com.
A statement from the FSA said: “The Authority has failed to establish any association between the website and any genuine Isle of Man companies or businesses.
“As far as we can ascertain the website nor those behind it are known to anyone genuinely associated with the aforementioned Isle of Man addresses.”
4 Comments