Standard Trust Finance Home Plc / Standard Trust Finance Bank
This notice is issued by the Financial Supervision Commission (“the Commission”) in accordance with the powers conferred upon it under Section 30 of the Financial Services Act 2008.
The Commission has recently become aware of correspondence received by a South African resident from a company calling itself Standard Trust Finance Home Plc. The correspondence indicated that the individual was due to receive a large inheritance. It was alleged that the inheritance monies of approximately GBP £1.5 million had been placed in a bank account in the Isle of Man but owing to local Anti-Money Laundering Regulations, release of the monies had been blocked. To be able to release the monies to the individual, an upfront payment of £4,500 would be required.
All correspondence originated from a John W Cork who claimed to represent the company, Standard Trust Finance Home Plc. Other documents also mention a company by the name of Standard Trust Finance Bank. No physical or internet address is given for the above named companies just the contact telephone number (+44) 702 405 6843 which is supplied by a UK based company.
To try and legitimise the fact that the monies had been blocked in the Isle of Man, fraudulent letters have been produced claiming to have originated from the Commission in the Isle of Man incorrectly claiming that the blocked funds were held by the Commission in an escrow account on behalf of the proposed recipient. These letters reproduced various logos including those of the Commission and the Isle of Man Government and quoted laws and regulations that are not in place in the Island.
It is a concern that once the upfront fee had been paid communication would cease with the potential victim.
The Commission wishes to draw attention to the following observations:
There are no genuine companies incorporated in the Isle of Man with the names Standard Trust Finance Home Plc or Standard Trust Finance Bank.
No genuine correspondence would be sent from the Commission stating that funds were held by them in escrow accounts on behalf of individuals.
The Commission has established no genuine links between the above named companies and the Isle of Man.
A search of all genuine companies incorporated in the Isle of Man is available.
A search of all entities licensed by the Commission is available.
Under the circumstances, the Commission would strongly urge persons considering accessing this potentially fraudulent website to exercise the greatest possible caution before proceeding, bearing in mind the contents of this public notice.
The Commission feels that any person becoming involved with the above named companies may potentially become the victim of an Advanced Fee Fraud.
It may be an attempt at gaining personal data from the recipient in order to steal their identity.
Also see information issued by the Isle of Man Office of the Data Protection Supervisor.
Any persons who are already involved in any dealings with the above named entities and have concerns should contact the Enforcement Division on +44 1624 689311 or by e-mail to [email protected] for advice.
FSC Reference: NDR/03/2013