The Monetary Authority warns consumers to beware of suspected fraudulent website "www.hongkongtransfer.com", which is operated by an alleged "City Corresponding Commercial Bank of Hong Kong".

The bank claims it offers various banking services to people in Hong Kong. However, it is not authorised under the Banking Ordinance to carry on banking business or the business of taking deposits in Hong Kong, nor does it have the approval to establish a local representative office.

The case has been referred to the Police for further investigation.