I read the article on the 7 banks or so in the Caribbeans I believe that was a scam and some of them may still be operational, the article was by SPF I believe so now I'm wondering if you guys have come across any other fake banks that are still active or active in the sense that their website is still operational and looks convincing enough to trick people?
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Which active "banks" are CONFIRMED to be scams? Not one you had bad experience in
- Thread starter NealC
- Start date
That's what I mentioned, not banks where people have bad experience but actual scams such as banks that don't actually exist or ones where the bank will take your money and never give it back
I read a report in one of the threads here it was by a website called sbfprivee and they listed some banks such as
• Delta West Credit Bank
• Credit Foncier
• Credit Foncier International Trade & Finance
• Societe Bancaire et Fiduciaire Privee
• St George Bank
• Hottinger & Cie International Banque
• CG Bank
I read a report in one of the threads here it was by a website called sbfprivee and they listed some banks such as
• Delta West Credit Bank
• Credit Foncier
• Credit Foncier International Trade & Finance
• Societe Bancaire et Fiduciaire Privee
• St George Bank
• Hottinger & Cie International Banque
• CG Bank
As a general rule, avoid anything claiming to be licensed in Comoros (including subnational territories Moheli/Mwali and Anjouan) and Western Sahara.
For every other bank (or other financial service provider) you deal with, check that they are licensed by going to the government website and navigating to the relevant department's website (usually central bank or financial services commission). And make sure that the entity you are engaged with is actually the entity listed by the government. A common scam is to set up a bank with the same or similar name and use a slightly different URL
Be especially cautious with TRNC/North Cyprus. There are fully licensed and non-scam banks operating there. But because of the territory's disputed status, it can be hard to verify independently. Same goes for most disputed territories.
Watch out for bad English, unprofessional language, and verbiage that a reputable financial institution would never use. If a bank uses terms like anonymous, non-FATCA, non-CRS, and secrecy, it's probably a scam or at best a type of financial service provider you'd be wise to avoid.
Some of the banks you mentioned are reputable financial institutions. However, scammers might be setting up banks with similar names (unlicensed or claiming to be licensed in Comoros and Western Sahara). Another couple of the banks you mentioned are operational as banks or bank-like entities, serving a clientele consisting almost exclusively of desperate people who can't bank elsewhere (for various reasons).
For every other bank (or other financial service provider) you deal with, check that they are licensed by going to the government website and navigating to the relevant department's website (usually central bank or financial services commission). And make sure that the entity you are engaged with is actually the entity listed by the government. A common scam is to set up a bank with the same or similar name and use a slightly different URL
Be especially cautious with TRNC/North Cyprus. There are fully licensed and non-scam banks operating there. But because of the territory's disputed status, it can be hard to verify independently. Same goes for most disputed territories.
Watch out for bad English, unprofessional language, and verbiage that a reputable financial institution would never use. If a bank uses terms like anonymous, non-FATCA, non-CRS, and secrecy, it's probably a scam or at best a type of financial service provider you'd be wise to avoid.
Some of the banks you mentioned are reputable financial institutions. However, scammers might be setting up banks with similar names (unlicensed or claiming to be licensed in Comoros and Western Sahara). Another couple of the banks you mentioned are operational as banks or bank-like entities, serving a clientele consisting almost exclusively of desperate people who can't bank elsewhere (for various reasons).
This is TOO easy, but I'll bite...
Scam = "Every ruse by anyone, entity, licensed, unlicensed, public, private, or 'government' that seizes, confiscates, disgorges, i.e. steals, money or assets that do NOT belong to them or they have NOT earned through the fruits of their labor in a voluntary transaction, regardless of scribbles on paper, followed by a ritual called voting, and then renamed as law and enforced or judged by people who have a vested interest or draw all or some of their salaries from the stolen money or assets."
To make it easier to understand in a real-life situation: If the banker/agent who orders the scam, or writes the code for it, happens to be in the middle of the Amazon jungle with Mike Tyson alone, would they really still have the conviction to physically do the scam?
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all institutions participating in fractional reserve banking are scams by definition - no law or deposit insurance policies can change anything about this fact
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