Warning over 'fake' offshore bank

Banking regulators in Jersey have warned consumers and investors not to deal with a bank claiming to operate in the Channel Islands.

Channel Offshore Bank advertises a St Helier address on its website and says it has been in business since 1989. The Jersey Financial Services Commission says the bank's claims are false and it is not authorised as required by law, according to the BBC. The bank's account registration process asks users to input personal details, including current bank account details. In a notice on its website, the commission said Jersey's 33 genuine banks are registered and listed on the regulator's own website. The statement reads: "COB has not received authorisation to conduct deposit-takin...