ECCB’s Advisory on St Kitts-Nevis Online Media Bank
The Eastern Caribbean Central Bank (ECCB) confirms that SKN Online Media Bank is not licensed under the Banking Act, 2015 of Saint Christopher and Nevis (No 1 of 2015), as amended (the Banking Act, 2015) and is not regulated or supervised by the ECCB.
The ECCB has become aware of the website (httpshttps://online-mb.com/) in the name of
St Kitts-Nevis Online Media Bank (SKN Online Media Bank), purportedly licensed in the Federation of Saint Christopher (St Kitts) and Nevis, to provide business banking and private banking services. In accordance with Section 17, entities licensed under the Banking Act, 2015 must display their licences ‘in a conspicuous place in the public part of any place of business’ and on their websites.
Members of the public should conduct the appropriate level of due diligence and exercise caution in their dealings with institutions with which they are not sufficiently familiar. The public is also encouraged to engage in banking activities with institutions that are duly licensed by the competent authorities.
