The Bangladesh Financial institution has issued a directive urging people to chorus from aiding investments or partaking in transactions with the fraudulent group “Onpassive” resulting from its alleged involvement in cash embezzlement.
The central financial institution issued a notification on Thursday on this regard and despatched it to high executives of all of the scheduled banks to warn folks.
As per the notification, Bangladesh has witnessed fraudulent actions carried out by quite a few Multi-Stage Advertising (MLM) entities. These organizations have allegedly misappropriated substantial sums from the general public. The central financial institution has taken discover of the ‘Onpassive’ incident.
The notification from the BB highlighted the current operations of an MLM firm known as Onpassive (www.onpassive.com) in Bangladesh. Investing on this firm is taken into account a fraudulent offence underneath the Prevention of Cash Laundering Act, 2012.
The central financial institution suggested all to chorus from investing, buying and selling, facilitating transactions, and selling such fraudulent ponzi schemes.
