The latest figures published by the IoM Financial Supervision Commission show a further decline of £390,000,000 in bank deposits over the previous Quarter. This is a total decline of £3.38billion since April 2009. In the context of the IoM's other troubles it is not surprising that the FSC Board delayed publishing these depressing figures.
No doubt the government will make light of the statistics, attributing them to anything other than the Kaupthing Depositors' Action Group campaign DON'T BANK ON THE ISLE OF MAN. Well they would wouldn't they?
Dispossessed depositors feel that they have a moral obligation to warn expats and others throughout the world of the risks involved in depositing on the Isle of Man. To this end a new website has been launched www.kaupthingiom-dag.co.uk which sets out out some of the reasons why putting your life savings in the trust of the Isle of Man could seriously damage your wealth.