Report: Bank Negara denies running investment scheme on Telegram

PETALING JAYA: Bank Negara Malaysia (BNM) has refuted claims of operating an investment scheme through a Telegram group.

In a recent report by Hmetro, it was alleged that a Telegram group was falsely using the central bank’s name and guaranteeing its members returns of up to RM17,000 within a span of three to six hours, for an initial investment as low as RM500.

The group would even share what appeared to be bank receipts as proof of successful investments.

According to the report, this group is potentially part of a larger syndicate on Telegram, with three other accounts employing the same investment scheme and each group having approximately 100 members.

BNM acknowledged that scammers are employing new tactics and exploiting its logo in order to deceive unsuspecting victims.

“BNM does not endorse any investment schemes, and we urge the public to report any such information to BNMLink,” stated the central bank.

In an effort to raise awareness, BNM also shared a cautionary message on its official Twitter handle, warning the public about scammers misusing the bank’s name and logo to promote fraudulent investment schemes on Telegram.

It was further revealed that BNM has filed a report with the Malaysian Communications and Multimedia Commission (MCMC) to initiate necessary action against these scammers.

Last month, Communications and Digital Minister Fahmi Fadzil disclosed that Telegram has agreed to collaborate with MCMC and the police to combat online fraud on its platform.

During a specified period from January 2020 to May this year, Malaysians have lost approximately RM45 million to online scams on Telegram.