The Bank of Mauritius has warned that an entity by the name of “ACLASSBANK”, purporting to be an investment company registered with the Corporate and Business Registration Department in Mauritius, is offering opportunities, on its website, to the public for foreign exchange trading as well as cryptocurrency trading.
The BoM said “ACLASSBANK” is neither licensed nor regulated by the Bank of Mauritius to operate as a bank in Mauritius.
A list of financial institutions duly licensed by the Bank is available on the Bank’s website at https://www.bom.mu/financial-stability/supervision/licensees/list-of-licensees.
Members of the public are also advised to be cautious when providing personal information including bank account and/or credit card numbers, as in the event of any unauthorized transaction, it might be very difficult for them to recover their money.
GUIDELINES FROM THE BANK OF MAURITIUS
- Be aware of the potential risks involved in online investing;
- Verify whether the trading platform is authorised and regulated;
- Be very cautious of promises of high returns, if any;
- Take special care when being asked to provide bank account and credit card details; and
- Not invest in products they do not understand.
