Exposure of Fraudulent Bank by Law&Trust International

Law&Trust International has been providing assistance with opening bank accounts in foreign banks for over 12 years, and our staff know all the pitfalls of the process and the stringent requirements imposed by foreign banks on non-residents. It should be noted that recently, bank requirements have become significantly stricter: more documents are required concerning both the company's activities and its beneficiaries; some banks have restricted cooperation with classic offshore zones, and the decision-making process for account openings has been prolonged. Amidst these developments, clients seek ways to simplify their lives and find the easiest way to open an account in a new bank, unfortunately making them easy prey for fraudulent banks.

Recently, Law&Trust International encountered yet another scam scheme perpetrated by a bank in Mauritius—Commercial Exchange Bank—which lured potential clients with promises of quick remote account opening without requiring original company documents, imposing no limitations on the activity or jurisdiction of companies and beneficiaries. The sole condition for opening an account was to pay a substantial deposit into the provided account details. Of course, after transferring the specified sum, the bank disappeared, leaving prospective clients empty-handed.

One of the fundamental principles of Law&Trust International is protecting the safety and security of existing and potential clients. On behalf of our company, we urge you to remain vigilant! As the saying goes, “There’s no such thing as a free lunch.” There are no banks that open accounts within hours, without documents and any requirements for the company and beneficiaries, while simultaneously requesting payment of unjustified funds into provided account details.

Protect yourself and your finances! Don’t fall victim to fraudsters!

For professional assistance with opening a bank account, contact the qualified experts at Law&Trust International!