Cyprus Central Bank warns Limassol-based Sabax Bank is fake

The Central Bank of Cyprus has warned that Limassol-based Sabax Bank is a fake and has no operating license from the regulator.

In a written statement on Wednesday, the CBC also said documents appearing on the financial institution’s website as an operating license granted by the financial institution were “counterfeit.”

As for the disputed financial institution’s website, it states that Sabax Bank was founded in 1998 by two private bankers and is one of the best banks in Cyprus providing a wide range of services to non-resident companies. increase.

“[It]attracts with its convenience and ease of use, its affordability and the possibility of opening offshore accounts for all kinds of businesses.

“If you have an account, we recommend opening an additional account with your bank.

“Accounts can be blocked for the most ridiculous reasons, as practice in Latvia and other offshore jurisdictions shows.

“And this means business stoppages, late payments, inability to accept payments and, in general, critical stagnation of the company.” Cyprus Central Bank warns Limassol-based Sabax Bank is fake

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