About Us / Media Centre / News & Announcements / BSP not associated with online money scams

BSP not associated with online money scams

Monday, March 13, 2023

“BSP Financial Group Limited (BSP) is not associated with any online investment or scam activities and will not be liable for any transactions with any such individual, groups or associations.”

This is the response from BSP Group CEO, Mark Robinson on queries raised regarding fast money schemes and scams including pyramid schemes that are largely facilitated via Facebook or any other online platforms.

“While there have been individuals, groups or associations portraying to be associated with BSP or its employees by using the BSP Logo to scheme unsuspecting individuals on Facebook, Messenger, WhatsApp, SMS texts or Email to invest, deposit or transfer funds in exchange for a higher return; the BSP Group maintains that it is not associated with such scam activities and will not be liable for any transactions with such individuals, groups or associations,” Mr Robinson said.

BSP VISA Classic Debit Cards can be used at ATMs globally.

He said with increased fast money schemes and scams including pyramid schemes, there has been a demand on BSP VISA Classic Debit Cards and as a responsible bank, BSP has put in place additional requirements for new customers to meet when applying for a VISA Classic Debit Card.

“Most of our customers get lured into investing in these fast money scheme so additional measures like provision of a passport on application and questions surrounding customer intent to apply for a VISA Debit Card are put in place to protect their savings.

“Avoid being scammed. Never accept an offer straight away, do your research and seek independent advise especially if it involves significant amount, time and commitment. Do not send money to someone you do not know or trust - it is difficult to recover your money from a scammer. Awareness education is important, if you spot a scam, spread the word to your family and friends. Always be alert - Scammers will target you anyhow, anytime and anywhere,” added Mr Robinson.

If you are still uncertain Call our Customer Service Centre on 320 1212 / 7030 1212 or Email: servicebsp@bsp.com.pg

BPNG continues to warn the public to be cautious and avoid doing business with fast money schemes. The Bank strongly advises the public against putting money in fast money schemes, as they are illegal and fraudulent. People who place their money with promoters or agents of these money schemes risk losing their hard earned money.