Central banks issue warnings over fraudulent banking and AI scams

Central banks in The Bahamas and Mauritius have issued urgent warnings regarding fraudulent financial activities targeting the public.

The Central Bank of The Bahamas identified several entities operating without authorization, specifically naming Allied Bank and Trust Bahamas, Allied Bank & Trust Limited, Allied Fund Services Limited, Allied Investment Advisors Limited, Allied Securities Ltd., and Alliance Bank & Trust Limited. The regulator stated that all entities wishing to conduct banking and fiduciary activities must be duly licensed and warned that punitive measures may be taken against those operating without required registration.

In Mauritius, the Bank of Mauritius (BoM) warned of a scam involving an AI-generated image of Governor Priscilla Muthoora Thakoor. Fraudsters used the deepfake image alongside a well-known business figure on social media to promote a fake investment scheme. The BoM clarified that the scheme has no connection to the central bank or local commercial banks, which also had their names used without permission to create a false sense of legitimacy.