Bolivia-based Seedoro Bank claims to have advisers and management with more than 18 years of experience in in providing financially attractive solutions.

It claims to offer products such as accounts, debit cards and financial advice, as well as several investment products.

However, on its website, the bank cites a non-existent financial services register number.

An FCA statement read: “Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.

“However, some firms act without our authorisation and some knowingly run investment scams.

“This firm is not authorised by us and is targeting people in the UK.

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“Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”

Seedoro Bank has been operating online at www.seedorobank.com, via email at [email protected] and from the telephone numbers +591 7730 7399 and +591 3370 1515.

Consumers who have given money to an unauthorised firm are not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme if things go wrong.

The FCA advises consumers to check whether a firm has been authorised on the Financial Services Register.

Meanwhile, firms that have not yet been authorised can be found on the Interim Permission Register.