Bank of Mauritius warns that Tranz Digital Bank is not licensed or regulated as a digital bank in Mauritius

The Bank of Mauritius issued a scam alert warning that an entity calling itself “Tranz Digital Bank” is claiming on its website to be a fully registered and licensed digital bank in Mauritius, but is neither licensed nor regulated by the Bank. The Bank advised the public to verify an entity’s licensing status before engaging with any website claiming Bank authorisation, referring to its published lists of institutions licensed under the Banking Act and licensees under the National Payment Systems Act 2018. It also reminded the public that, except as otherwise provided for in the Banking Act 2004, only a bank duly licensed by the Bank may use the word “bank” or derivatives in its business name or represent itself as such in any form of communication or advertising in Mauritius.