The Bank of Sierra Leone has issued a public notice warning citizens about scammers. According to the notice, the Bank has become aware of WhatsApp group postings in Sierra Leone encouraging members to join a group for online foreign currency trading.
The Bank cited sections of the Financial Services Act, urging the public to exercise caution when trading foreign currencies online. The notice referenced Section 3 of the Other Financial Services Act, 2001, and Section 50A (1) of the Other Financial Services (Amended) Act, 2007, which authorize the Bank of Sierra Leone to license financial institutions and Investment Dealers/Advisors that solicit deposits for investment purposes. The notice also stated that licensed financial institutions must display their license for customer attention. The Bank emphasized that it has not licensed any company named Forex Guru Investment as a Dealer or Investment Advisor for any investment activity, including online or offline foreign currency trading.
The notice warned that the WhatsApp messages are from individuals attempting to defraud the public. Citizens are advised to disregard such requests and report them to the Cybercrime Unit of the Sierra Leone Police.
