22 February 2008

The BNP and the dodgy internet bank

After placing a peg on your nose you can - if you have a strong stomach and plenty of moral resolve - bring yourself to read some of the BNP's literature. Apart from the bigotry, the constant use of the words proud, English and threat you will often see reference to 'Freedom Promotions.' It would appear that Freedom Promotions is a front for the financial arm of the BNP - when ordering leaflets etc BNP members make their cheques payable to Freedom Promotions.

If you visit the website of the Financial Services Authority (FSA) you will find a list of unauthorised internet banks - one of which is an organisation called... you guessed it, Freedom Promotions.

Is the BNP running an unauthorised internet bank?

Why not ring the FSA and ask them - their number is 020 7066 1000

From Mike Ion's blog.

2 comments:

Anonymous said...

The following is the FSA’s warning guide against Unauthorised Internet Banks such as the one allegedly run by the nazi BNP:

http://www.fsa.gov.uk/pages/Doing/Regulated/Law/Alerts/internet.shtml

This list contains the names of entities promoting themselves over the internet and purporting to be banks and/or offering banking-type services, however none are authorised by the FSA.

Consumers who deal with these entities should exercise caution as they will not get the benefit of the UK compensation and complaints schemes if anything goes wrong or if they have any complaints. This list is by no means exhaustive as new names are regularly added. The absence of a firm's name from this list does not necessarily mean that they can be safely dealt with.

You are advised to take special care before entering into any commitments in respect of regulated activities (financial services), e.g. investment offers, banking and insurance services, advertised on the internet.

Although many financial services on the internet are genuine, the global accessibility and availability of websites that the internet has brought about means that not all information and facilities will derive from authorised finance business.

Consumers are strongly advised to check whether a firm or individual is authorised in the United Kingdom, on the FSA Register where there is more information available. Other financial regulators in the British Isles also issue public statements concerning unlicensed financial services business. These are:

• Guernsey Financial Services Commission: www.gfsc.gg
• Isle of Man Financial Supervision Commission: www.fsc.gov.im
• Jersey Financial Services Commission: www.jerseyfsc.org

If you become aware of any websites that you feel may be of regulatory concern, please contact the appropriate regulator.

Please see our FSA Consumer webpages for more information regarding warnings and alerts.

Financial Services and Markets Act 2000 said...

Hi Atreus/Denise

I just did a search of Companies House, and no company in England and Wales called ‘Freedom Promotions’ exists! The only companies with that name, all listed with nature of business not supplied, were dissolved in 1998, 2001 and 2004. Strange.

So, with have ‘bank’ that the financial regulatory body, FSA, lists as unauthorised with a warning about doing business with it, plus it is not a registered company at Companies House!! Yep, sounds like the BNP: Northern Rock Part Deux.