MFSA warns over unlicensed entity offering online banking

The Malta Financial Services Authority issued a warning over SGT Malta - as depicted on the website - http://sgtmalta.net/eb/ - which claims to be offering financial services including online banking.

The MFSA said that the entity is NOT authorised or licenced by the MFSA to provide any type of financial service that requires authorisation or a licence in terms of law.

"Accordingly, the MFSA warns the public to exercise extreme caution when dealing with this entity," it said.

The MFSA said investors and consumers of financial services should not enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made holds a licence to provide such services from the MFSA or another reputable financial services regulator.

A list of entities licensed by the MFSA is available from the Malta Financial Services Authority, and can be viewed at: www.mfsa.com.mt.