Alpha Credit Union

The Central Bank of the Bahamas has issued a warning against an unauthorized bank operating from Nassau following details of the illegal activity in last month's edition of OffshoreAlert.On June 6, 2002 - six days after our article - the Central Bank issued a "Warning Notice" that Alpha Credit Union, of 51 Frederick Street, P.O. Box CB-12287, Nassau, was not licensed in the Bahamas.

OffshoreAlert has uncovered two related Internet 'banks' which are operating using contact information in the Bahamas, where they do not have a banking license. Alpha Credit Union Bank and Alliance Trust Bank are promoted from web sites at www.alphacreditunion.com and