ADB Warns Bangladeshis Against Fake Loan Scams

The Asian Development Bank (ADB) has warned people in Bangladesh to stay alert against fraudulent loan schemes that misuse the bank's name and logo to deceive victims with fake financial offers.

In a public advisory, the Manila-based lender clarified that it does not provide loans, grants or financial assistance directly to individuals. It also stressed that it never asks anyone to share personal financial information or make payments through mobile financial services or any other channel in exchange for financial support.

The warning follows reports that fraudsters have created fake websites, Facebook pages, social media accounts and other online platforms while falsely claiming to represent ADB and its officials.

According to the bank, the scammers are illegally using ADB's name, logo and identity to collect money from unsuspecting people despite having no affiliation with the institution.

ADB urged the public to ignore any messages, advertisements or online offers claiming to provide ADB loans or direct financial assistance. It also advised anyone approached by individuals or organisations making such claims to report the incidents to the relevant authorities.

The bank reiterated that it supports development projects in Bangladesh by working with the government and private sector organisations through official and transparent channels, not by providing direct financial assistance to individuals.

"Any person claiming to represent ADB and offering loans or financial assistance directly to individuals is acting fraudulently," the bank said.

ADB also encouraged people to verify information through its official scam advisories before responding to unsolicited offers using the bank's name, logo or officials.

The warning comes amid a rise in online financial fraud and identity theft, with criminals increasingly exploiting the names of trusted international organisations to target unsuspecting victims.