The Asian Development Bank (ADB) has warned people in Bangladesh to remain vigilant against fraudulent schemes that misuse the bank's name and logo to offer fake loans in exchange for fees.
In a statement on Monday, ADB said it does not provide loans, funds or financial assistance directly to individuals. It also does not ask people to share personal financial information or make payments through mobile banking or any other channel in return for financial support.
The warning follows reports that fraudsters have created fake websites, Facebook pages, social media accounts and other materials to impersonate ADB and its staff. According to the bank, the scammers are using ADB's identity to deceive people and collect money under the false promise of loans.
ADB stressed that it has no involvement in these fraudulent activities and urged the public not to respond to such offers.
The bank advised anyone contacted by individuals or groups claiming to provide ADB loans or direct financial assistance to report the matter to the appropriate authorities.
ADB said it continues to work with the Government of Bangladesh and private-sector organisations to support development projects through transparent and accountable processes. It emphasised that anyone claiming to represent the bank while offering loans or financial assistance directly to individuals is acting fraudulently.
The bank also directed the public to its official scam advisories for information on fraud involving ADB's name, officials or office addresses.
Founded in 1966, ADB is a multilateral development bank owned by 69 members, including 50 from Asia and the Pacific. It works with governments and development partners to support sustainable, inclusive and resilient economic growth across the region.
