Rapid Private Bank

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.

Rapid Private Bank

www.rapidprivatebank.com

The Commission has recently become aware of the above website, which claims to represent the above entity.

The website claims that Rapid Private Bank is located in the Isle of Man.

Research carried out by the Commission has established that the above entity does not have any presence in or connection with the Isle of Man.

The above entity is not a company incorporated within the jurisdiction of the Isle of Man. It is not registered as a foreign company having established a place of business on the Isle of Man. It is not registered as a business name on the Isle of Man.

The above entity is not licensed by the Financial Supervision Commission to undertake banking business or any other regulated activity.

A list of all institutions licensed by the Commission is available on our website at www.fsc.gov.im

The Commission has established no association between the above entity and any genuine Isle of Man companies.

The Commission has established no genuine links between the above entity and the Isle of Man.

The Commission notes that the above website bears a number of similarities, in particular regarding the alleged officers listed, namely, Messrs William Stephens, Fred Douglas, Edwin Arditon and Patrick Piers Toilet, to those highlighted in the Commission Public Notices issued:

on 31st July 2003 in respect of Atlantic Trust Bank,

and on 16th September 2003 in respect of Express Trust Bank,

and on 30th July 2004 in respect of Morgan Finance Bank,

and on 16th September 2004 in respect of Royal Pacific Bank,

and on 25th November 2004 in respect of First State Online Trust Bank,

and on 7th April 2005 in respect of Global Monetary Organisation,

and on 7th April 2005 in respect of Standard Offshore Bank,

and on 7th April 2005 in respect of Pacific Assurance Trust,

and on 24th June 2005 in respect of Royal Offshore Bank,

and on 19th July 2005 in respect of Pacific Investment Bank / Pacific Express Investment Bank

Under the circumstances, the Commission would strongly urge persons considering dealing with the above entity 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 entity and have concerns should contact the Enforcement Division on +44 1624 689313 or by email to [email protected].

Any persons who have paid funds to the above entity should contact their local Police Fraud Unit without delay.

FSC Reference: JPM/32/2005