World Bank warns Bangladesh public of fake loan scams

The World Bank (WB) has issued a warning to the public in Bangladesh about fraudulent schemes misusing its name and logo to offer fake loans in exchange for fees.

In a statement, the WB clarified today that it does not provide loans directly to individuals and does not request personal financial information under any circumstances.

The caution comes amid growing reports of scammers creating fake Facebook pages and identities to impersonate the organisation.

Victims are often approached through social media and asked to send money via mobile banking platforms.

The WB emphasised that it has no involvement in these activities and urged individuals to report such incidents to local authorities immediately.

"We urge the public to remain vigilant against solicitations that falsely claim to represent the WB," the statement added.