ADB Warns Public Against Fake Loan Schemes

The Asian Development Bank (ADB) has issued a strict public warning against fraudulent loan schemes circulating through fake websites, counterfeit Facebook pages and forged identity documents.

In a press release on Monday ADB clarified that it does not provide direct loans grants or any form of financial assistance to individuals. The organization emphasized that it never asks citizens for personal financial information in exchange for support nor does it request money transfers via mobile banking or any other payment channel.

Recently organized scammers have been impersonating the bank and its officials to deceive the public and extort money. The ADB strongly condemned these actions, stating it has no association with such malicious activities.

Reaffirming its role as a long-standing development partner of Bangladesh, ADB noted that it works exclusively with the government and verified private sector organizations. All official development projects are implemented through strictly transparent and accountable procedures.

The ADB advises citizens to remain vigilant and treat any offer of personal loans or financial assistance claiming to be from the organization as a definitive scam.