CCAF Alert: Fake Institution 'Forbes Private Bank Monaco SA' Reported
Monaco's Commission for the Control of Financial Activities (CCAF) has recently issued an alert concerning a fraudulent website operating under the name « Forbes Private Bank Monaco SA ». This warning aims to protect investors and individuals against an attempted identity theft in Monaco's financial sector.
A case of banking identity theft
According to the Commission for the Control of Financial Activities, this website claims to be a bank or financial institution based in Monaco, although it holds no official authorisation to carry out this type of activity.
The use of the name "Forbes" together with the mention of "Monaco" can be misleading and lend an appearance of legitimacy. This is nonetheless a fraud designed to deceive users, particularly in connection with investment proposals or financial services.
No licence in Monaco
The CCAF points out that no entity named "Forbes Private Bank Monaco SA" is registered or authorised to operate in the Principality.
To operate legally, any financial institution must be duly licensed and subject to the regulations in force, under the supervision of the competent authorities such as the Commission for the Control of Financial Activities.
The risks for investors
Fraudulent websites of this kind can lead to significant financial losses. Scammers often use:
- Promises of high returns
- Interfaces imitating well-known banks
- Arguments based on confidentiality or exclusivity
- Pressure to invest quickly
Once funds have been transferred, it generally becomes very difficult to recover them.
How to check a financial player in Monaco
Before taking any steps, it is essential to:
- Check that the institution appears on official lists
- Consult the warnings published by the Commission for the Control of Financial Activities
- Be wary of unsolicited offers
- Never disclose sensitive information without verification
CCAF recommendations
The Commission for the Control of Financial Activities invites anyone who has been contacted by this website, or who suspects fraud, to exercise the utmost caution.
If in doubt, it is recommended to:
- Not respond to solicitations
- Not transfer any money
- Report any suspicious activity to the competent authorities
