Another fictitious financial institution has been added to the list of fraudulent business entities that operate illegally in The Bahamas.
The recently updated Central Bank of The Bahamas' Cumulative Warning list shows that 'Banco de Bahamas' is the most recent addition to the list of fraudulent companies that "may be operating in breach of the Banks and Trust Companies Regulation Act, 2000, and/or other laws of The Bahamas."
"The entities listed... are not licensed under the (Act) to conduct banking and/or trust business in or from within The Bahamas," said the Central Bank in a warning sent out with the list. "Members of the public, who transact business with these entities, do so at their own risk."
This latest addition, not affiliated with Bank of The Bahamas, according to the Central Bank, brings the total number of such companies on a government watch list to 62, and once again raises concerns that the country's banking reputation could be jeopardized by these so-called "rogue traders".
Royal Bank Mutual, Caribbean International Bank, Colina Financial Trust Services, Greenfield Bank Limited, Nassau Finances, United Bank of Bahamas, Deltec Financial and Trust Services are just a few of the banks that appear on the list with names similar to institutions that had - at least once - been licensed to operate in The Bahamas.
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The recently updated Central Bank of The Bahamas' Cumulative Warning list shows that 'Banco de Bahamas' is the most recent addition to the list of fraudulent companies that "may be operating in breach of the Banks and Trust Companies Regulation Act, 2000, and/or other laws of The Bahamas."
"The entities listed... are not licensed under the (Act) to conduct banking and/or trust business in or from within The Bahamas," said the Central Bank in a warning sent out with the list. "Members of the public, who transact business with these entities, do so at their own risk."
This latest addition, not affiliated with Bank of The Bahamas, according to the Central Bank, brings the total number of such companies on a government watch list to 62, and once again raises concerns that the country's banking reputation could be jeopardized by these so-called "rogue traders".
Royal Bank Mutual, Caribbean International Bank, Colina Financial Trust Services, Greenfield Bank Limited, Nassau Finances, United Bank of Bahamas, Deltec Financial and Trust Services are just a few of the banks that appear on the list with names similar to institutions that had - at least once - been licensed to operate in The Bahamas.
Discuss Add this link to... Bury
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