FE Crew
| Printed: December 14, 2023 23:35:29
The Bangladesh Financial institution has issued a directive urging people to chorus from aiding investments or partaking in transactions with the fraudulent organisation ‘Onpassive’ on account of its alleged involvement in cash embezzlement, stories UNB.
The central financial institution issued a notification on Thursday on this regard and despatched it to prime executives of all of the scheduled banks to warn folks.
As per the notification, Bangladesh has witnessed fraudulent actions performed by quite a few Multi-Degree Advertising (MLM) entities.
These organisations 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 referred to 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.’