BB cautions public against fake loan apps and websites

Different websites or apps have been created using names or logos of the International Monetary Fund (IMF) and Bangladesh Bank to entice people to take loans. Bangladesh Bank has warned people not to fall into this trap.

In a warning on Tuesday, Bangladesh Bank said Bangladesh Bank or the IMF have no connection with such organizations. 
Warning the public, the central bank said this way public may be victims of financial fraud or face various legal risks. Therefore, Bangladesh Bank has advised not to provide any information including name, address, mobile number of these websites or apps.

The warning said fake apps and websites related to giving loans are being run under the names https://dbbloan.com, https://bblloan.com and https://www.bdloan71.com using the names or logos of Bangladesh Bank and the International Monetary Fund. 

It said Bangladesh Bank or the International Monetary Fund have no connection with such app or websites. Fraudsters using name, address, date of birth, mobile number, email address and national identity card number are collecting from registration of these apps and websites.

This may expose the public to financial fraud or expose them to various legal risks. In order to avoid financial loss and legal risks, everyone is advised not to provide any sensitive information or make financial transactions on such fake apps and websites.

The central bank also said according to Section 15 (2) of the Payment and Settlement Systems Act, 2024, it is a crime to operate any online or offline platform for the purpose of taking investment or giving loans to public without the approval of Bangladesh Bank. 

For this, a person will be punished with 5 years of imprisonment or a fine of Tk 50 lakh or both. Everyone is being instructed to avoid such criminal activities.