BEWARE OF INVESTMENT PROMOTIONS OFFERINGUNREALISTIC RETURNS

THE Bank of Papua New Guinea is issuing an urgent warning to the public regarding an investment promotion currently being advertised and circulating on social media offering an unrealistically high return of 400% over a 20-month time period. The Bank strongly advises the public against depositing their hard-earned money in fast money schemes offering a high return, as they are illegal and fraudulent.

The investment strategy to generate the high return lacks transparency and if early investors have received such a high return, it is most likely sourced from the proceeds of further funds raised from other investors and not from a genuine investment strategy.

The Bank of Papua New Guinea urges the public to use the services of authorized financial
institutions only, that are regulated and supervised by the Bank of Papua New Guinea.

A list of Authorized Deposit Taking Institutions below:

A) Commercial Banks

1. ANZ Banking Group (PNG) Limited
2. BSP Financial Group Limited
3. CreditBank PNG
4. Kina Securities Limited
5. TISA Bank Limited
6. Westpac Bank (PNG) Limited

B) Licensed Financial Institutions (LFIs)

1. BSP Finance (PNG) Limited
2. Finance Corporation Limited
3. First Investment Finance Limited
4. Handy Finance Limited
5. Heduru Moni (Moni Plus) Limited
6. I-Finance PNG Limited
7. Kada Poroman Microfinance Limited
8. Kwik Moni Limited
9. Mahogany Capital Limited
10. National Banking Corporation Limited
11. Nationwide Microbank Limited
12. Papua Finance Limited
13. Resource & Investment Finance Limited
14. Women’s Micro Bank Limited

C) Saving & Loans Societies (authorised to accept deposits
and provide loans to their members only).

1. Alekano Savings & Loan Society Limited
2. Air Niugini Savings & Loan Society Limited
3. Bougainville Savings & Loan Society
4. CBO Savings & Loan Society Limited
5. East New Britain Savings & Loan Society Limited
6. Financial & Private Sector Savings & Loan Society Limited
7. Manus Savings & Loan Society Limited
8. Nasfund Contributors Savings & Loan Society Limited
9. Niu Ailan Savings & Loan Society Limited
10. Mining & Petroleum Savings & Loan Society Limited
11. Nambawan Savings & Loan Society Limited
12. PNG Nurses Savings & Loan Society Limited
13. PNG Power Savings & Loan Society Limited
14. PNG Ports Corporation Savings & Loan Society Limited
15. PNG Waterboard Staff Savings & Loan Society Limited
16. Post Telecommunication & Pangtel Savings & Loan Society
17. Rural Development Bank Savings & Loan Society Limited
18. Teachers Savings & Loan Society Limited

For further information email info@bankpng.gov.pg