Warning issued over 'bogus' Belgian bank
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.
[Copyright Expatica 2005]
Subject: Belgian news