The Eastern Caribbean Central Bank (ECCB) has issued a public advisory warning that the entity known as ‘SKN Online Media Bank’ is neither licensed nor regulated under the Banking Act, 2015.

In a statement released on April 10^th, 2026 from Basseterre, the ECCB clarified that the institution, which operates via an online platform and claims to provide business and private banking services, does not meet the legal requirements to operate within Saint Kitts and Nevis.

The central bank noted that licensed financial institutions are required under Section 17 of the Banking Act to prominently display proof of licensing both at their physical premises and on official websites. The absence of such verification raises concerns about the legitimacy of the operation.

The ECCB is urging the public to exercise caution and conduct thorough due diligence before engaging with unfamiliar financial entities. It further advised individuals and businesses to transact only with institutions that are properly licensed and supervised by the relevant authorities.