The Central Bank of the Bahamas has issued a public notice warning that some entities are falsely claiming to be licensed, regulated, registered or otherwise authorized to conduct financial services business in The Bahamas. It identified SP Monza Bank, Coral Credit Bank or Coral Credit, Bahamas GTB and Bahamas Crypto Bank as not licensed to conduct financial services in the jurisdiction. The notice says any company seeking to provide banking and trust business, money transmission services, payment services or other regulated financial activities in or from The Bahamas must be appropriately licensed or registered by the relevant Bahamian regulatory authority. False representations about licensing status may be used to mislead investors and customers and may expose them to fraud and financial loss. The Central Bank urged anyone dealing with a firm claiming to operate from The Bahamas to independently verify its regulatory status against official lists, and noted that securities and investment activities, including digital assets, are overseen by the Securities Commission of The Bahamas. Persons who believe they have been contacted by a fraudulent entity or have invested through one were told to report the matter to the Commercial Crime Unit of the Royal Bahamas Police Force.
Central Bank of the Bahamas2026-06-19
Central Bank of the Bahamas warns that four entities are falsely claiming Bahamian authorization
The Central Bank of the Bahamas warned that SP Monza Bank, Coral Credit Bank or Coral Credit, Bahamas GTB and Bahamas Crypto Bank are not licensed to provide financial services in or from The Bahamas. It said false claims of Bahamian authorization may mislead investors and expose them to fraud, and urged the public to verify regulatory status before transacting.