FINANCIAL SCAMS RELATED TO LAND BANKING
1. Autoriti Monetari Brunei Darussalam (AMBD) has found that a company not registered in Brunei Darussalam has been contacting members of the public with investment opportunities in foreign real estate.
2. AMBD would like to remind the public to be careful when participating in any schemes or financial transactions. It is important to conduct due diligence and to check the legitimacy of such individuals/company as well as the inherent risks associated before agreeing into any financial transactions. Amongst the signs which indicate that the transaction may not be legitimate are the use of pressure tactics, or if dubious documentations are involved.
3. AMBD would also like to advise the public to deal only with persons that are regulated by AMBD. Members of the public who choose to deal with unlicensed and unregulated persons offering financial services or products may not have the protection afforded under the regulatory framework administered by AMBD, particularly if the operators are based overseas. AMBD's regulatory framework aims to safeguard the interests of investors by ensuring that only competent and qualified persons may provide financial services.
4. The list of persons and institutions 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
Reference: AMBD/COMMS/3/2016
Date: 25 Muharram 1438/ 26 October 2016
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