§ Mr. Arbuthnot
To ask the Secretary of State for Foreign and Commonwealth Affairs what information he has on alleged fraudulent activity by banks registered in Montserrat.
§ Mr. Eggar
We are aware of allegations concerning serious irregularities in the banking system of Montserrat. The responsibility for the banking system of Montserrat rests with the Government of Montserrat who are taking urgent steps to investigate these reports and have obtained assistance from the United Kingdom in carrying out their inquiries. Whilst we have no direct responsibility for the business of banks in Montserrat, individuals are advised to exercise caution in any dealings with banks registered there.