A LUCKY DRAW SCAM USING POWER ROOT
1. Autoriti Monetari Brunei Darussalam (AMBD) would like to, once again, inform the public to be cautious when receiving Short Messages (SMS) or calls from overseas regarding a scam misusing the name of Power Root company. AMBD also wishes to remind consumers seeking financial services to deal only with persons that are regulated or licensed by AMBD.
2. If a consumer chooses to participate in schemes that are not regulated by AMBD, he will not have the protection afforded under the regulatory framework administered by AMBD, particularly if the operators are based overseas.
3. AMBD would like to remind that it is very important for consumers to check the legitimacy of such schemes and the inherent risk associated with them, rather than just focusing on the offered returns, particularly where the scheme promises returns which are much higher than the returns offered by established investment schemes/ products regulated by AMBD. If something is too good to be true, it probably is.
4. The list of persons licensed by AMBD may be obtained through the AMBD App, which can be downloaded free of charge on both 'App Store' for iPhone users and 'Google Playstore' for Android users; or visit AMBD's website at http://www.ambd.gov.bn
Autoriti Monetari Brunei Darussalam
Date: 9 Zulkaedah 1437/12 August 2016
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