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Regulators in Bahamas and Canada warn against offshore ‘bank’

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.