Warning issued over 'bogus' Belgian bank

3rd May 2005, Comments 0 comments

3 May 2005 BRUSSELS – Customers have been warned to keep a wide berth of a financial firm in Brussels which does not meet banking standards.

3 May 2005
 
BRUSSELS – Customers have been warned to keep a wide berth of a financial firm in Brussels which does not meet banking standards.

On Tuesday, the Banking, Finance and Insurance Commission (CBFA) said a new firm which was planning to open at 304 Avenue Louise in Ixelles did not have any of the necessary authorisation to offer banking services in Belgium or any using Belgium as a base.

The CBFA said the company was known as Intercontinental Bank or Banque Internationale Commerciale (BIC), but also used the acronym INGCO or ING Co on some of its documents on its website.

The abbreviations could trick customers into thinking the bank is linked to the Dutch bank ING, one of Belgium’s leading banks.

CBFA stressed that ING was not linked with the new pseudo bank in any way.

CBFA advised customers not to use any of the services of the new 'bank' on Avenue Louise.

For more information, consult www.bfa.be or get in touch with the consumer protection department for financial services at 02.220.59.10 or peri@cbfa.be

[Copyright Expatica 2005]

Subject: Belgian news

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