Official-looking Bank letterhead was used. Recently, correspondence was sent by fax to creditors of West African governments, claiming that the senders were empowered by these governments to repay past debts. Also, scam artists sometimes falsely represent themselves as Bank auditors or members of the Bank West African Regional Delegation. We've seen increased use of sophisticated forms and letterhead to send what appears to be legitimate World Bank Group correspondence, as well as several schemes that reference the Bank. What forms do these fraudulent schemes take? These involve solicitations to open a personal bank account at the Bank, which is not a commercial bank, as well as telephone messages left by perpetrators notifying potential victims that they have won money that can be redeemed at the World Bank.įAQs 2.

Recently, two new fraudulent schemes have surfaced in South Africa.

Only a very small fraction actually involves the use of the Bank's name. Police estimate that thousands of these solicitations are sent by fax or email every week and are addressed to individuals and companies around the world. Other fraud schemes have originated in Cote d'Ivoire and Sierra Leone. Many scams, known as Advance Fee Fraud schemes, originate in Nigeria and are known as 'Nigerian scams' or '4-1-9' letters after the section of the Nigerian penal code that deals with this type of fraud. Some of these schemes misuse our name or falsely claim to be affiliated with the World Bank Group. Yes, individuals and businesses should take care not to fall victim to investment scams, known as Advance Fee Fraud schemes. Should individuals and businesses look out for fraudulent investment scams that misuse the World Bank's name? Fraudulent job postings and offers: What should you do if you receive a suspicious notification about a job posting or offer from the World Bank Group asking you to send money as part of the recruitment process?ġ.What should you do if you receive suspicious notifications about winning money to be paid by the Bank faxes, emails, or other correspondence involving requests for money transfers or payments that reference the Bank or any member of the World Bank Group or solicitations to open a personal bank account at the Bank?.What forms do these fraudulent schemes take?.Should individuals and businesses look out for fraudulent investment and other scams that misuse the World Bank's name?.

Fake regions bank statement