Brunei Darussalam Central Bank (BDCB) in a release yesterday issued a warning regarding a Telegram account impersonating the bank and misusing its official logo to offer loans to the public.
The release added that the agency does not request funds from the public nor provide loans.
The public is urged to remain vigilant against fraudulent entities misusing BDCB’s name and logo to scam individuals.
The agency emphasised that anyone using its name or logo without permission, or creating similar representations to deceive or cause confusion, is committing an offence under Section 74A of the BDCB Order, 2010. Offenders may face fines of up to BND20,000, imprisonment of up to seven years, or both. BDCB also advises the public to avoid unlicensed online entities offering financial services. Those seeking loans or financing should only engage with licensed financial institutions. A list of licensed institutions and the BDCB alert list can be found on the BDCB website at www.bdcb.gov.bn.
The agency advised the public to lodge a report immediately to the Royal Brunei Police Force at the nearest police station if they fall victim to such illegal practices.
