Ecowas Development Bank Limited

This notice is issued by the Financial Supervision Commission (“the Commission”) in accordance with the powers conferred upon it under Section 22 of the Financial Supervision Act 1988.

Ecowas Development Bank Limited Ecowas Promotions

Ecowas Development Bank Group

Ecowas Development Bank Transnational Incorporated

SunTrust Services

Sun Trust Telephone Banking

Union Bank E Advantage

The Commission has recently become aware of the above website, which purports to represent the above entities.

The website states that “Ecowas Development Bank Limited is regulated by the Isle of Man Financial Services Commission for banking and investment business.

We at the Isle of Man Financial Supervision Commission are the regulators for Banking and Investment business on the Isle of Man. We do not and never have licensed any of the above entities to undertake Banking or Investment business in or from the Isle of Man. Details of all entities licensed by the Commission are available. There is no such organisation as 'the Isle of Man Financial Services Commission.'

Financial Supervision Commission P.O. Box 58, Finch Hill House, Bucks Road, Douglas, Isle of Man, IM99 IDT None of the above entities are companies incorporated within the jurisdiction of the Isle of Man. They are not registered as foreign companies having established a place of business on the Isle of Man. They are not registered as business names on the Isle of Man.

The Commission has established no genuine links between the entities and the Isle of Man. Under the circumstances the Commission would strongly urge persons considering dealing with any of these entities to exercise the greatest possible caution before proceeding, bearing in mind the contents of this public notice.

Any persons who are already involved in any dealings with the above entities and have concerns should contact the Enforcement Division on +44 1624 689313 or by email to

Any persons who have paid funds to the above entities should consider contacting their local police fraud unit without delay.