Shao Bank Review: Legit or Another Scam?

shao bank review

An online banking platform named Shao Bank is becoming famous in the market because of claims of giving rewards of up to 20% for building an affiliate network.

In this post, we are going to review Shao Bank and let you know if it is legit or not.

What is Shao Bank?

Shao Bank is an online bank that is a subsidiary of Global Future Enterprises and provides several financial services such as insurance, bonds, and loans.

shao bank

It also offers a lucrative affiliate program that allows you to earn more money over the perks of its significant services.

The founder of Shao Bank is Yang Shao and its headquarters are situated in Hong Kong

shao bank founder

According to Similarweb, the total visits on Shao Bank’s website are 46k+ and its domain was last updated on October 2022, as per WHOIS.

Read: Review

Website Profile
Known asShao Bank
Site typeDigital banking
Services offeredFinancial  
Domain registration date17 July 2022
Address118 Queen’s Road, Hong Kong, HK
Contact+852 3960 6571

Read: Review

Shao Bank Review

After investigating Shao Bank’s company profile and business model, we found several grey characteristics.

Positive factors:

  • Founder is active in the market
  • Address of headquarters provided
  • Well-designed website  

Negative factors

  • Mixed reviews on the internet
  • Unrealistic returns
  • False claims on its website
  • Not authorized to provide financial services to all countries.

Although everything about Shao Bank appears to be legal and professional, there are several dubious features of the company, such as false claims that its parent company, Global Future Enterprise, has been in business since 2006. Yet, their domain history indicates that they have only been in business since 2016.

Additionally, the returns on its partner program seem implausible, but given all the other positive flags, we cannot make any conclusions about this business. Right now, it appears to be a legitimate company as evidenced by the fact that it has received more favorable than negative online evaluations.

But companies providing banking or financial services online, need approval from regulators of jurisdiction before starting any operations otherwise there is a high chance of securities fraud.

Read: Review


Who is the operator of Shao Bank?

Yang Shao is the operator of Shao Bank.

From where is Shao Bank operating?

Shao Bank is operating from Hong Kong.

Is Shao Bank legit?

Yes, currently it appears to be a legit business but its future will tell a lot about its legitimacy

Should I use the services of Shao Bank?

Yes, you can use the services of Shao Bank but at your own risk.

Read: Onewiex Collapse!

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