BDCB lists unauthorized financial service providers
Five individuals, companies or entities have been put on the alert list for June 2022, the Central Bank of Brunei Darussalam (BDCB) said yesterday.
They are: Dysfundtional.bn (Instagram profile); Loan Brunei Darussalam (Instagram profile), Quick Loans, loan_online_bruneidarussalam, gruplanbrunel or loanbrunei (7261187); Mia Mudah (Facebook profile), MIALOAN; Ministry Loan Brunei Darussalam (Facebook profile) or Ministry Loan Brunei (Instagram profile) (7238656); and 8141439.
The BDCB Alert List includes individuals, companies and websites that are not authorized or approved under the laws and regulations administered by BDCB, or whose activities raise suspicion of illegal financial activity.
The list is without prejudice to any other assessment by BDCB regarding the activities of the companies concerned. The alert list is available on the CBDB’s website.
BDCB reminded the public to deal only with BDCB-licensed financial institutions and to avoid any unlicensed entity or person carrying on or offering financial services, especially those with characteristics of get-rich-quick or pyramid schemes .
Among the financial products and services that must be licensed by the BDCB are money changer, money transfer and money lending. The public is reminded that they may not have the protection provided by BDCB’s regulatory framework if they choose to deal with unlicensed or unregulated entities, companies or individuals.
The public can visit the BDCB website at www.bdcb.gov.bn or follow the BDCB Instagram @centralbank.brunel for information on the dangers of unlicensed financial entities as well as how to identify financial scams.
The CBDB will continue to monitor suspicious or unauthorized financial activities in the Sultanate.
The public with information about unauthorized financial activities can contact the BDCB at 2380007 or 8380007 or by email at [email protected]