Fidelity Committed to Process

Following the recent news reports surrounding the indictment of Jeffrey Webb and others from FIFA, Fidelity Bank (Cayman) Limited (Fidelity), a subsidiary of Fidelity Bank & Trust International Limited, wishes to inform the public that with assistance from external experts, they are conducting an internal review in relation to the transactions that are referred to in the indictment.

Fidelity is a regulated financial services group and has in place procedures for reporting suspicious activity, as per the Cayman Islands All Crimes Anti-Money Laundering Laws.

The Fidelity Group has provided a range of financial services to customers for over 30 years and takes its role as a quality service provider seriously. It also takes seriously the allegations surrounding Mr. Webb and the other individuals connected with the FIFA investigation. The Bank is not aware of any allegations against it, but has been co-operating in full accordance with its responsibilities with regulators and other Government Authorities, and will continue to do so

Fidelity Group CEO Anwer Sunderji expressed his commitment to the process and to Fidelity’s customers and staff members: “The Directors and Executives consider the fight against money laundering to be a priority issue, and while we move through this process, we want to ensure that our valued customers and our staff understand that we will continue to operate as normal, providing our standard, high quality service”, he said.

He further said: “Licensed institutions are required to report suspicious activity and we are satisfied that the bank discharged its duty with respect to the specific transactions. We will be embarking on a comprehensive independent review of our procedures and processes to confirm that our bank is indeed in line with regulatory requirements.

“Finally, we share our deep disappointment at the indictment of Jeffrey Webb, a talented man who had the hopes of his country resting on his shoulders. We hope that he will be able to rebuild his life”.

About Fidelity
Fidelity Bank(Cayman) Limited is a wholly owned subsidiary of Fidelity Bank & Trust International Limited (FBT). FBT is a bank holding company incorporated in The Bahamas with licensed retail banking subsidiaries in The Bahamas and the Cayman Islands. FBT operates primarily in the personal banking segment and has consolidated assets of over $600 million. FBT also has a joint venture with Royal Bank of Canada which provides investment banking, corporate finance, and wealth management services through a 50/50 ownership of Royal Fidelity Merchant Bank &Trust Limited, which has operations in The Bahamas and Barbados.