Helen's Financial Home - Advisory Warning No. 20 of 2012 (12 October 2012)

Advisory Warning No. 20 of 2012

12 October, 2012

ADVISORY WARNING

Helen’s Financial Home

Tortola, British Virgin Islands – 12 October, 2012 – The British Virgin Islands Financial Services Commission (the “FSC”) has been made aware that an entity called Helen’s Financial Home has been offering loan and financial services whilst purporting to be incorporated, licensed and regulated in the British Virgin Islands. 

As a result of the FSC’s enquiries, it would appear that this entity, Helen’s Financial Home, is being used as part of a fake loan advanced fee fraud scheme.  The perpetrators of the advanced fee fraud scheme have been using the classified sections of legitimate websites to place an advertisement offering cheap loans. The victims who responded to those advertisements were invited to apply for financial loans and make an advance payment of a loan fee.  The promised loan monies were subsequently never received by the victims, and the advance loan fee payments made by the victims were lost.

Helen’s Financial Home has never been registered or incorporated as a company in the British Virgin Islands. Helen’s Financial Home has also never been licensed by the FSC to carry on financial services business in or from within the Territory. Members of the public are therefore advised to exercise extreme caution if solicited at any time by Helen’s Financial Home.  

Members of the public are also invited to view an earlier advisory warning issued by the FSC which contained general advice on Advanced Fee Fraud Schemes. That advisory warning may be viewed by using the following web link:

http://www.bvifsc.vg/News/tabid/160/articleType/ArticleView/articleId/12...

The public is invited to provide the FSC with any relevant information on this, and any other questionable entities that are purportedly operating in or from within the Territory.

The FSC is issuing this Advisory Warning under Section 4(1)(l) of the Financial Services Commission Act, 2001.