ADB warns of fake loan scams in Bangladesh using its name

The Asian Development Bank (ADB) is alerting the public in Bangladesh about fraudulent schemes that are misusing ADB’s name and logo to offer fake loans in exchange for fees.

ADB does not provide loans, funds, or financial assistance directly to individuals. It also does not request personal financial information or ask for payments through mobile banking or any other channel in exchange for financial assistance.

Recent reports indicate that fraudsters have created fake websites, Facebook pages, accounts, and other deceptive materials to impersonate ADB and its staff. These individuals are using ADB’s name and logo to mislead people and solicit payments. ADB has no involvement in these schemes.

Members of the public are strongly advised to remain vigilant and avoid responding to any such fake loan offers, according to a press release issued on Monday.

Anyone approached by individuals or groups claiming to offer ADB loans or financial assistance should report the incident to the appropriate authorities.