The Financial Supervisory Authority (Finanstilsynet) of Norway has raised an alert concerning four entities operating under the guise of banks: Saptrust Bank, Instant Bank, Banksured Bank, and Wattprosaver Bank. According to Finanstilsynet, these organizations do not have legitimate banking licenses and are suspected of being fraudulent operations aimed at deceiving consumers. The authority specifies that no contractual agreements should be made with these so-called banks, as they are likely set up solely to perpetrate scams against the public.

In its public warning, Finanstilsynet highlighted that these entities claim to offer various financial services, including payment solutions and loans, but they operate without the necessary authorization that must be granted by the regulatory authority. The absence of valid registration details or credible information regarding the organizations raises serious red flags. Additionally, the websites associated with these banks lack transparency, offering no insight into their ownership or operational legitimacy, and none of the provided addresses correspond to actual locations in Norway.

The alert serves as a crucial reminder for consumers to exercise caution and verify the legitimacy of financial institutions before engaging in any agreements. The regulatory body emphasizes that financial operations in Norway must be sanctioned to ensure consumer protection. This situation underscores the ongoing challenges of fraud in the financial sector and the importance of regulatory oversight in safeguarding the interests of consumers against such deceptive practices.