By Daniel Hunter

Businesses and consumers are being warned against a fake bank which claims to operate in the Channel Islands.

The Jersey Financial Services Commission says the Channel Offshore Bank claims to operate from a St Helier address and has been in business since 1989.

The Commission says the bank's claims are fake and insist it is not authorised as required by law.

In its applications process, customers are required to enter personal information including current bank account information.

The Commission has published a list of 33 regulated and genuine banks operating from the island. It does not include the Channel Offshore Bank.

In a statement, Jersey Financial Services Commission, said: "COB has not received authorisation to conduct deposit-taking business within the meaning of the banking business law.

"It appears to the commission that COB, as described on the website, is falsely purporting to trade from an address of PO Box 998, St Helier, Jersey, Channel Islands, and is carrying on, or holding out that it is carrying on, deposit-taking business in Jersey when it is not authorised to do so."

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