On Friday (today), the Malta Financial Services Authority (MFSA) issued a consumer warning over a fake entity operating under the name ASP Bank. From information available to the MFSA, ASP Bank claims to be a credit institution.
Although this entity purports to operate in Malta, the MFSA believes that this is not the case.
Therefore, the MFSA is advising the public that ASP Bank is neither a Maltese registered company nor licensed or otherwise authorised by the MFSA to provide any banking or other financial services which are required to be licensed or authorised under Maltese law.
Furthermore, information available to the MFSA suggests that ASP Bank is likely to be a scheme of dubious nature with a high risk of loss of money.
It urged the public to refrain from entering any transactions or otherwise dealing with the above-mentioned company or individual on any matters falling within the parameters of the Banking Act.
In addition, it reminded consumers not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator.
“Investors should also be extra cautious when being approached with offers of financial services through unconventional channels such as telephone calls or social media,” MFSA continued.
Consumers warned about Moneybase Ltd clone
Earlier this week, the authority issued another warning over another fake entity cloning Moneybase Ltd.
Fraudsters are using the details of the genuine company, under the name of Moneybase.bond, in an effort to deceive the public.
This entity, like ASP Bank, is neither registered nor authorised to provide any financial services in or from Malta. Additionally, it has no association with Moneybase Ltd.
The MFSA urged the public to make reference to a list of entities licensed by the authority, which can be viewed on its official website.
For more information on financial scams, one can refer to the MFSA scam awareness document.
If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first stop all transaction and contact the MFSA here, as soon as a suspicion arises.
