SegPay Called out for suspicious activity

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The Financial Services Commission has today issued a warning to the public regarding the above-named entities and associated websites.

During the course of its investigations, the FSC has noted online references that indicate that SegPay is a trading name used by Segregated Payments Limited, a Gibraltar company, which describe it as an Internet Payment Service Provider (IPSP).

The SegPay websites also appear to have been configured in such a way that these are also associated with the word ‘Gibraltar’ although the word itself does not feature on the web domains themselves.

Segregated Payments Limited may therefore be carrying on payment services activities in or from within Gibraltar.

Segregated Payments Limited is not regulated by the FSC, nor licensed under the Financial Services (EEA) (Payment Services) Regulations 2010, to carry on payment services activities in or from within Gibraltar.

The FSC therefore urges the public to exercise appropriate caution in respect of these entities, whilst it continues its investigations. People are able to verify whether a firm is licensed by the Gibraltar FSC, by checking the "Regulated Entities Search" section on our website at http://www.fsc.gi/fsclists/Search.aspx.

Any persons who are already involved in any dealings with the above entity and have concerns, should contact the Manager, Enforcement on +350 200 40283 or by e-mail to enforcement@fsc.gi

http://www.fsc.gi/enforcement/fscwarning0040.htm