The Isle of Man's Financial Supervision Commission on Monday issued a warning with regard to Oceania Bank PLC, which claims to be located in the jurisdiction.
The bank's address is given as “The Admiran House, 19-21 Loch Promenade, Douglas, Isle of Man, IM1 2LX”. However, research by the Commission has established that the above entity has no association whatsoever with this address.
According to the FSC:
"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."
The Commission went on to add that it has established no association between this entity and any genuine Isle of Man companies, and that it has established no genuine links between this entity and the Isle of Man.
It concluded:
"Under the circumstances, the Commission would strongly urge persons considering dealing with this entity to exercise the greatest possible caution before proceeding, bearing in mind the contents of this public notice."
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