Scam Alert: ‘FirstMaubank’ does not hold license, warns BoM

The Bank of Mauritius has issued a warning that an entity by the name of “FirstMaubank Limited”, is allegedly purporting to be holding a “Banking licence from Mauritius Free Zone”.

“Members of the public are advised that the said ‘FirstMaubank Limited’ is neither licensed nor regulated by the Bank and are consequently cautioned against dealing with this entity,” the BoM said in a ‘Scam Alert’ issued on September 8.

The Central Bank cautioned that, pursuant to section 5(1) of the Banking Act, no person shall engage in banking business, Islamic banking business, digital banking business or private banking business in Mauritius without a banking licence it has issued.

A list of financial institutions duly licensed by the Bank of Mauritius is available on the Bank’s website at https://www.bom.mu/financial-stability/supervision/licensees/list-of-licensees.