Apropos yesterday’s Sunday Island story on the Golden Key Scam, a Central Bank spokesman said that the bank did publish a notice in 2003 setting out a list of 31 institutions (including Golden Key) which, while not being registered under the Banking Act not Finance Companies Act for the purpose of accepting deposits from the Public, "they may enter into other transactions for the purpose of raising funds from the public."

"However, the notice made very clear that ‘such activities are not supervised or regulated by the Central Bank.’ That was a clear warning of caveat emptor or buyer beware," he said.