Action groups fighting for compensation for depositors hit by the collapse of Kaupthing and Lansbanki have call for an investigation into the availability of onshore bank accounts for crown dependency residents.
They have accused the Government, banks and building societies and the FSA of passing the buck on making it easier for offshore depositors to hold an onshore account covered by the Financial Services Compensation Scheme (FSCS). According to Emma Bergh-Apton, a member of Kaupthing Singer & Friedlander Isle of Man Depositors Action Group (KSFIOMDAG) and Landsbanki Guernsey Depositors Action Group (LGDAG), the 10,000 plus depositors in the two failed Icelandic bank subsidiaries would not be without the majority of their savings if crown dependency residents had no choice but to hold their sa...
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