Financial regulator issues warning on bank claiming to be Malta's oldest

The Malta Financial Services Authority was recently notified that an entity called Apps Finance, Malta Group (www.appsfinm.com) was purporting to be the one of the oldest banks in Malta and offering online banking services.

“The MFSA wishes to alert the public, in Malta and abroad, that Apps Finance, Malta Group is not a company registered in Malta and is certainly not authorised by the MFSA to provide any type of financial service, including the provision of banking services to retail or other customers. Accordingly, the MFSA warns the public against dealing with this company.”

According to its own website, the Apps Finance Malta Group says it was founded in Edinburgh by royal charter in 1727, and subsequently was joined by other banks.

Its chairman is also touted to be Sir Tom McKillop, the former chairman of the Royal Bank of Scotland.

However it appears that Apps Finance Malta Group’s website was registered in Cullowhee, New York State (USA).