The bank's account registration process asks users to input personal details, including current bank account details.
The Jersey Financial Services Commission (JFSC) says the bank's claims are false and it is not authorised as required by law, according to a report on the BBC.
In a notice on its website, the JFSC said Jersey's 33 genuine banks are registered and listed on the regulator's own website. The statement reads: "COB has not received authorisation to conduct deposit-taking business within the meaning of the banking business law.
"It appears to the commission that COB, as described on the website, is falsely purporting to trade from an address of PO Box 998, St Helier, Jersey, Channel Islands, and is carrying on, or holding out that it is carrying on, deposit-taking business in Jersey when it is not authorised to do so."
The commission said the bank had never been registered, or applied to be registered, and said any deposits it received would be illegal.