World Bank warns public in Bangladesh against loan scams using its name

The World Bank has warned the public in Bangladesh about fraudulent schemes misusing its name and logo to deceive people by offering fake loans in exchange for fees.

In a statement, the World Bank said it has recently received reports of scams in which perpetrators falsely claim to provide loans on behalf of the World Bank. The institution clarified that it does not offer loans directly to individuals and never asks for personal or financial information from the public.

According to the World Bank, fraudsters have created fake Facebook pages, false identities and are using other deceptive methods, including mobile banking platforms, to collect money from unsuspecting victims by impersonating the organisation.

The World Bank urged people to remain vigilant and avoid responding to such solicitations that claim affiliation with the institution. Individuals who come across these fraudulent activities have been advised to report the matter immediately to local authorities.

The organisation reiterated that it has no involvement whatsoever in these schemes and cautioned the public to be wary of similar attempts to misuse its name for financial fraud.