In this review we have a look at Paraiba World and the Unique Private Bank. We explain why it is a complex scam that you have to avoid.
We had to dig deep to expose the Paraiba scam, but we have all the information you need abut this fraudulent and fake bank.
What is Paraiba
Paraiba is the name of an investment program of the Unique Private Bank. This bank claims to be a global financial institution that delivers tailor-made solutions for companies and individuals.
The main offer of Paraiba consists of two investment plans with up to 0.5% daily (four days a week) returns on investment. The minimum deposit is 25 USD
The Unique Private Bank says it achieves these profits thanks to currency trading, cryptocurrency trading and arbitrage trading.
Paraiba might look like a safe deal, because it is a licensed bank. But is it really?
In reality Paraiba is a sophisticated scam that can mislead a lot of people. Because when you make a research about this program and the Unique Private Bank, you might find a website that will confirm that it is a regulated banking service. But everything is fake.
Paraiba uses a clever trick that makes it seem that it is a real bank. Because on its website it says that it is regulated as Unique Credit Bank in Mwali, which is one of the Comoro Islands.
When you make a research about the Mwali financial regulator, Google will serve you a link to Mwaliregistrar.com. That website supposedly is run by the Mwali International Services Authority, and indeed, Unique Private Bank is listed there as a regulated and active banking entity.
The problem is that all this is fake. Mwali is a small island with only about 35,000 people living there and it has no own financial regulator. In other words, Mwali International Services Authority is a fake regulator set up by scammers.
The real financial regulator of the Comoro Islands is Banque Centrale des Comores. And this central bank lists only four licensed banks in the Comores, and Unique Credit Bank is not among them.
There you have it, Unique Credit Bank has a fake banking license, it is not a real bank and Paraiba is a scam.
Fraudsters have used a loophole here, since Mwali has not its own financial regulator, they created a fake one, therefore it was easy for them to occupy first places in search engines when you look for the Mwali financial regulator.
Typical pyramid scheme
How does Paraiba really work? A brief look at its presentation reveals that it is a typical pyramid scheme. It lives on new deposits coming in, it needs new members to be recruited and it has a correspondent structure.
People will get rewarded for introducing new investors to Paraiba, you can get a percentage of what people below you deposit. In total you can get up to 1.5% daily, which in itself is a number that is common for investment scams.
At this stage it is not clear if Paraiba is paying at all, it might not even be a Ponzi, just a regular scam that will take all the money and give nothing back in return.
Since Paraiba and Unique Private Bank are fake entities, deposits with them are not protected in any way. You don’t even know where your money goes to when you make a deposit. It’s a very dark scam with owners who are hiding their identities.
Paraiba review – the conclusion
Paraiba is a scam run by the fake Unique Private Bank. It is not a real bank, it is a con set up to rip off people. Stay away from it!
If you are interested in financial trading, try a free demo with legit and truly regulated companies.
If later you want to switch from the demo to a real account and invest real money, please be sure to understand the risks.