Bank Islam Brunei Darussalam (BIBD) alerted the public to a recent surge in fake investment scams promoted on social media. The scams involve fraudulent accounts offering “magic money” or “investment” schemes promising high returns with little or no risk.
The scammers use fake testimonials and screenshots of BIBD’s mobile banking app as so-called “proof” of successful investments.
BIBD, in a press release, emphasised that these social media accounts are not affiliated with the bank and they misuse the image of BIBD’s mobile banking app to appear legitimate.
BIBD advised the public to be suspicious of any investment offering guaranteed or high returns with minimal risk; always verify investment opportunities by doing own research.
Refer to resources such as the Brunei Darussalam Central Bank Alert List, which lists unlicensed entities and individuals offering financial services; and avoid dealing with unlicensed entities or individuals promoting financial services, especially those that resemble get-rich-quick or pyramid schemes.
The public suspecting that they have fallen victim to a financial scam should report to the Royal Brunei Police Force and lodge an official complaint by visiting any BIBD branch. BIBD said it remains committed to protecting the community and urged the public to stay vigilant against fraud. The bank said it continues to raise awareness through various channels to help the public identify and avoid being victims of scams.
