The Financial Conduct Authority (FCA) has issued a warning for customers against using Great Western Bank to obtain life insurance.
The regulator warned customers that the company is currently operating without authorisation and as such poses a risk to consumers it may target.
The firm also operates under the trading style International Trust Union Bank, which has a duplicated website. It lists contact addresses in London and Burnley on both sites.
When accessing the website, Great Western Bank portrays itself as a financial service offering life insurance alongside other general and home insurance cover, and banking and savings accounts.
The FCA warned: "We believe this firm may be providing financial services or products in the UK without our authorisation. Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised or registered by us.
"This firm is not authorised by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong."
The regulator added that dealing with financial firms that are authorised or registered "by us gives you greater protection if things go wrong. If you used an authorised firm or registered firm, access to the Financial Ombudsman Service and FSCS protection will depend on the investment you are making, the service the firm is providing, and the permissions the firm has."
"If you would like further information about protection, the authorised or registered firm should be able to help."
