A recent investigation into Bancus has raised serious questions about the platform’s banking activities, MLM structure and promotion of digital shares, as well as the background of individuals associated with the project.
Bancus presents itself as a financial platform designed to connect traditional payments with digital assets, offering users access to a digital wallet and Mastercard-branded debit cards. However, a recent review published by BehindMLM raises a number of significant regulatory and consumer-protection concerns surrounding the operation.
According to the investigation, Bancus does not appear to offer traditional retail products or services outside its membership-based financial ecosystem. Its MLM compensation structure reportedly rewards participants through several levels of recruitment, including commissions connected to debit-card purchases and card top-ups.
More significantly, Bancus also promotes what it describes as private digital shares, which users can acquire through cryptocurrency tokens. Promotional material cited in the investigation refers to projected increases in the value of these shares and to a staking mechanism offering estimated periodic returns.
BehindMLM reports that Bancus has not provided evidence that this investment offering is registered with financial regulators. In the United States, the platform reportedly does not appear to be registered with the Securities and Exchange Commission (SEC) for the offering described in its promotional materials.
Is Bancus Actually a Bank?
Another major concern relates to the way Bancus presents its financial services.
The platform reportedly markets itself as an alternative to conventional banking and provides payment cards and other financial services. At the same time, its own materials state that Bancus is not a traditional bank or cryptocurrency exchange.
According to BehindMLM, no evidence has been identified showing that Bancus holds a banking licence in any jurisdiction.
This distinction is extremely important for consumers. A platform providing services that resemble banking does not necessarily offer the regulatory safeguards, deposit protections or supervision normally associated with licensed financial institutions.
Questions Surrounding Bancus Leadership
The investigation also focuses on Luis Alejandro Giralt Apestegui, also known as Alejo Giralt and by several other variations of his name, who is identified in external Bancus promotional material as a co-founder and CEO.
According to the report, Giralt was arrested by U.S. authorities in 2012 in connection with a conspiracy to commit money laundering and was subsequently convicted and sentenced to nearly five years in federal prison.
He was later associated with Landian Metaverse, a cryptocurrency-based virtual real-estate project that reportedly collapsed between 2022 and 2023.
The investigation notes that Giralt’s full identity does not appear among the leadership information presented on Bancus’ website, despite external promotional materials identifying him as a co-founder and CEO.
“Simplified KYC” Raises Additional Concerns
Bancus reportedly promotes “simplified KYC” as part of its onboarding process.
KYC — Know Your Customer — procedures are a fundamental part of financial-sector compliance and are intended to help financial institutions identify their customers and prevent money laundering, fraud and other illicit financial activity.
Any financial platform that promises unusually limited or “frictionless” verification while allowing users to move significant amounts of fiat currency or cryptocurrency deserves additional scrutiny.
Why This Matters for Investors
The combination of MLM recruitment, cryptocurrency, payment cards, digital shares and banking-style services can make platforms such as Bancus appear more established and regulated than they may actually be.
Consumers should remember that the existence of a professional website, payment card or functioning digital wallet does not by itself establish that a company is licensed or that funds held through the platform are protected.
Before transferring money to any similar platform, investors should independently verify:
- the legal entity operating the service;
- the jurisdiction in which that entity is registered;
- whether it holds the necessary banking, payment or investment licences;
- whether securities or investment products being offered are properly registered;
- who actually controls the company and handles client funds; and
- what legal remedies are available if withdrawals are suspended or accounts are frozen.
The Bancus case is another reminder that the line between fintech innovation and unregulated financial activity can be deliberately blurred.
If you have invested through Bancus or another online investment platform and are experiencing withdrawal problems, unexplained account restrictions or requests for additional payments before funds can be released, preserve all communications, transaction records, wallet addresses and payment documentation. These records may be crucial for tracing funds and assessing possible legal action.
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