Business Crime Bureau prevents identification theft and inheritance claim of U.S.$ 35 million in United Kingdom

  • Original Message
    From: Business Crime Bureau – Kuwait
    Sent: 04 April 2005 09:38
    To: Financial Investigation Bureau – U.K. London
    Subject: ID theft – Internet Banks

    Dear Jon,

    The following is a case we might need to share with other members as you might need to report this to authorities for their investigation as it might lead them to some clues for any pending cases or investigations. From my side, I will not neglect any small piece of information without paying attention to them.

    Facts:

    Mr. Jamali is an Indian nationality working in a shop selling building material in Kuwait. His income is limited and I do not think it exceeds GBP.600/- per month. He approached me last Saturday in my office (Business Crime Bureau) and stated that he received a phone call from a person who called himself as Gwarzo in UK – Jersey – supposedly a lawyer who stated that Ali Jamali’s grandfather Kader Bhai Shamshudein expired and he and his family members inherited an amount of US$35 million. This call was made to him a year ago. Ali Jamali claimed that Gwarzo knows lots of information about his family members, the parties who are entitled for his inheritance.

    He requested him to establish an account with an internet bank called Trustshore Bank to transfer the amount into that account. In addition to this he also had to obtain a Power of attorney for all beneficiaries of the heirs.

    Accordingly he claimed that he received the opening account request form, which was duly filled and signed, in addition attaching a copy of his credentials. He further stated that his grandfather migrated to UK about 40 years ago and there was no news about his whereabouts ever since (it is too good to be true).

    Accordingly, the account was opened and the funds were transferred and he claims that the money still held in that account but blocked by Jersey Financial Services.

    Analysis:

    From my first look, I presume that this is a type of ID theft where the organized crimes can use such name to do the unlawful activities. In regards to Gwarzo knowing about Jamali’s family members, I informed him that criminals are keen to do their homework to convince the victim that the case / transaction is genuine……… I informed him that this information may be passed to him by parties from his family members or they managed to get the information from India.

    This case was forwarded to you to share it with you and the other members of the Bureau and or to be used by the regularity investigations bodies in UK.

    I wonder whether he requires to take any type of actions through reporting this incidents to the Regulatory in the U.K. to clear his name from any illicit activities which might be executed under his name.

    Please suggest where to refer to, in case you think such action must be taken by him. Please do not hesitate to contact me for any further information.

    Your feedback also appreciated….

    Kind regards

    Dr. Jamal Abdul Raheem
    President – Business Crime Bureau
    www.bcbkuwait.com

  • Original Message
    From: Financial Investigation Bureau – U.K. London
    Sent: 05 April 2005
    To: Business Crime Bureau – Kuwait
    Subject: ID theft – Internet Banks

    Dear Jamal,

    BCB Trustshore Bank has been brought to our attention on numerous occasions. In fact recently the Jersey Financial Services Commission has issued the following public statement regarding what appears to be a Nigerian “419” fraud, “Advance Fee”, or as you have surmised, an identification theft:

    This statement is re-issued in order to warn investors and others against dealing with unauthorized financial services providers.
    Trustshore Bank & Trust Corporation (“Trustshore”) Integris Group of Mutual Funds (“Integris”)

    The public statement was originally issued on 4 October 2002 and is now re-issued with new paragraphs 5 and 6 following a representation from entities with similar names that are licensed in other jurisdictions. The purpose of this statement is to advise the public that Trustshore and Integris have not received authorisation to conduct investment, deposit-taking or collective investment fund business within the meaning of the laws stated below.

    The Commission become aware of a website, www.trustshore.com, that states that Trustshore has established an office in Jersey and implies that Trustshore is subject to regulation. Amongst the products offered are Integris funds.

    The Jersey Financial Services Commission (“the Commission”) has issued this public statement under Article 22 of the Financial Services (Jersey) Law 1998, as amended (“the Financial Services Law”), Article 45B of the Banking Business (Jersey) Law 1991, as amended (“the Banking Business Law”), and Article 14A of the Collective Investment Funds (Jersey) Law 1988, as amended (“the Collective Investment Funds Law”). The Commission wishes it to be known that:

    1. Neither Trustshore nor Integris have ever held, or applied for, licences under the Financial Services Law. Therefore any financial services business, as defined in Article 2 of the Law and carried out since 1 July 1999, is a breach of Article 6 of the Financial Services Law.

    2. Neither Trustshore nor Integris have ever held, or applied for, licences under the Banking Business Law. Therefore any deposit-taking business, as defined in Article 3 of the Law and carried out since 1 October 1991, is a breach of Article 7 of the Banking Business Law.

    3. Neither Trustshore nor Integris have ever held, or applied for, licences under the Collective Investment Funds Law. Therefore any collective investment fund business, as defined in Articles 2 and 3 of the Law, carried out since 1 June 1989 is a breach of Article 4 of the Collective Investment Funds Law.

    4. The Commission has established that no genuine links exist between Trustshore or Integris and the Jersey address quoted on the website.

    5. Trustshore is not connected in any way to Bayshore Bank and Trust (Barbados) Corporation that is licensed as an offshore bank by the Central Bank of Barbados.

    6. Intergris is not connected in any way with Intergris Bank & Trust Limited that is licensed as an offshore bank by the Central Bank of Barbados or Intergris Funds Limited that is licensed as a mutual fund by the Cayman Islands Monetary Authority.

    7. All regulated businesses are listed on the Commission’s web site at www.jerseyfsc.org The Commission requests that any person who has had dealings with any of the above entities contact the Commission.

    Gary Godel
    Director Enforcement
    Jersey Financial Services Commission
    Nelson House,
    David Place,
    St. Helier,
    Jersey,
    JE4 8TP.

    6 March 2003

    Therefore, I would recommend that Mr. Jamali makes a formal complaint to the appropriate authorities in Kuwait who may wish to discuss this matter with the Jersey Financial Services Commission. Also I would like to publish an article in our next bulletin regarding this incident and therefore, should be grateful if you would arrange for Mr. Jamali to give his appropriate authority.

    I look forward to receiving your response.
    Best regards

    Jon

    This communication is from ICC Commercial Crime Services, Maritime House, 1 Linton Road, Barking, Essex IG11 8HG
    Tel: +44 (0)20 8591 3000
    Fax: +44 (0)20 8594 2833
    www.icc-ccs.org

www.trustshore.com


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Trustshore Bank & Trust Corporation, through its chartered operations located in the Channel Island , offers a variety of financial services specifically designed for high net worth individuals and corporations. Trustshore Bank & Trust Corporation provides a true turn-key wealth management relationship from private banking facilities to trustee and company services in most offshore jurisdictions.

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