The Reserve Bank has warned the public about an overseas firm offering financial services to New Zealand clients.
First International Bancorp claims to be a "privately owned international financial institution, registered under the New Zealand Commonwealth Offshore Banking Act of 1993".
Its website says it offers customers "secure investment opportunities" and "the lowest risk and highest rates of return available in today's financial market".
It also claimed "important alliances" with ANZ and ASB. However, a Reserve Bank statement said First International Bancorp was not licensed or supervised by any New Zealand authority.
"It is not registered under the New Zealand Commonwealth Offshore Banking Act of 1993 as no such act exists in New Zealand," the statement said. "Use of the name First International Bancorp is not permitted by the Reserve Bank of New Zealand."
First International Bancorp claims to be a "privately owned international financial institution, registered under the New Zealand Commonwealth Offshore Banking Act of 1993".
Its website says it offers customers "secure investment opportunities" and "the lowest risk and highest rates of return available in today's financial market".
It also claimed "important alliances" with ANZ and ASB. However, a Reserve Bank statement said First International Bancorp was not licensed or supervised by any New Zealand authority.
"It is not registered under the New Zealand Commonwealth Offshore Banking Act of 1993 as no such act exists in New Zealand," the statement said. "Use of the name First International Bancorp is not permitted by the Reserve Bank of New Zealand."
