The Brunei Darussalam Central Bank (BDCB) Alert List has been updated, the organisation announced on Thursday.

The BDCB Alert List is a list of individuals, companies and websites which are neither authorised nor approved under the relevant laws and regulations administered by BDCB or whose activities raise a suspicion of illegal financial activity. The list is without prejudice to any further assessment by BDCB regarding the activities of the companies concerned.

The BDCB Alert List can be found on the BDCB website.

BDCB reminded the public to only deal with financial institutions licensed by BDCB, and to avoid unlicensed entities or individuals carrying out or offering financial services, especially those with characteristics of get-rich-quick or pyramid schemes. Among the financial products and services that must be licensed by BDCB include money changer, money remittance and money lending.

The public is also reminded that they may not have the protection provided under BDCB’s regulatory framework should they choose to deal with entities, companies or individuals which are unlicensed or unregulated.

BDCB is committed to the Sultanate’s financial stability and to safeguard the country’s financial system and the interests of financial consumers.

The public can visit www.bdcb.gov.bn or follow BDCB’s Instagram @centralbank.brunei for information on the dangers of unlicensed financial entities as well as on how to identity financial scams.

-- Courtesy of Borneo Bulletin