Another "Bank" in the Comoros Islands - a country that doesn't have offshore banks!!
Don't the scammers ever stop? To ask the question is to answer it. Another fake bank in the Comoros Islands has surfaced. We have written extensively about fake offshore banks supposedly operating out of the Comorors Islands - which ironically doesn't actually have any offshore banks or even legislation to license offshore banks.
CG Bank https://cgbanque.io purports to be operating out of The Comoros Islands. And on their website they claim a license number and are listed on the fake government website http://mwaliregistrar.com/list-of-entities (Here's a hint: if a bank's credibility is based on its inclusion on a fake government website, that's probably not a good sign....)
We have written extensively about fake offshore banks and would recommend our initial post about Credit Foncier in the Comoros - which has changed its website a few times since our initial article exposing them (That's kind of odd isn't it? Almost like they don't want people to know they're a scam bank...). We also linked to the real website of the Comoros government (http://banque-comores.km/index.php?page=etablissements-de-credit) which lists the actual, licensed Comoros banks - and surprise, suprise - CG Bank and Credit Foncier aren't listed there.
Here is the original post on Credit Foncier - much of what is written there applies to CG "Bank": https://www.offshorereviews.com/blog/credit-foncier-comoros-fake-bank
When choosing an offshore bank (and the same applies to offshore investment firms, offshore brokerages, offshore precious metals brokers and ESPECIALLY to offshore cryptocurrency exchanges) we would recommend doing the following:
- Call them - talk to a real person and ask who their regulator is.
- Independently search out and contact the banking regulator of the country where the bank operates. Or at the very least visit their website - almost all governments that license offshore banks have a list of current banks posted on their website. For example here is the list of licensed banks in the Cayman Islands: https://www.cima.ky/banking-statistics Scroll to the bottom of the page and you'll see the list of banks categorized by class.
- Talk to a reputable, highly reviewed service provider and ask a rep if they have any experience with a particular country or a particular bank. Reputable agents, attorneys and incorporation services will ONLY refer clients to legitimate banks.
- Independently search out a law firm or attorney in the country where the bank operates and ask the attorney if he/she is aware of the bank and can verify that it is operating legally in the country. If a local lawyer or law firm has never heard of the bank, that's maybe not such a good sign.....
- Call the bank and ask to schedule an in-person visit. If the bank gives you the run around, well maybe that's not such a good sign either......
- If you can, we recommend visiting the bank in person, even if it's not required to open an account. You could even take a cruise and drop in for an un-announced visit. If the bank lists its address as "111 Palm Tree Bvld", have your cab driver take you there (if he's never heard of the bank or the address that might just be a red flag....). But if you do manage to arrive at 111 Palm Tree Blvd and you're greeted by an empty lot, or anything other than the bank you were hoping to put your life's savings into, well maybe that's really, really, really not such as good sign....
If you do all of the above, you will have the confidence of knowing that you are dealing only with a legitimate, licensed, offshore bank that actually exists. And that's always a good feeling - maybe even a really, really, really good feeling. Above all; use your head, use your common sense and do your own homework.
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