Definately the case! Plus I think the bank's IT department is probably getting a roasting for leaving the domain name unregistered! Seriously though, it could be the start of a new type of fraud - could scare a lot of people away from shopping/banking online (I'm sure someone is setting up a site for this purpose as we speak - there are a myriad of ways it could be done).
Shortt precis: Unclaimed web domain of major High St bank was used by con artists to fool people into thinking 'business investments' were actually making money thus tempting them to invest more money - of course the bank accounts etc. were false as were the deals. see here if I haven't explained it too well! http://news.bbc.co.uk/1/hi/technology/2308887.stm
I noticed from the site that the address used was the bank name with "The" in front. I don't know which it was but I can think of some I wouldn't fall for. One or two examples are "The Barclays" or "The HSBC"!