The Royal Monetary Authority of Bhutan has published a press release announcing enforcement action against 20 violators involved in sharing bank accounts with third parties, with 16 convicted and subject to penalties and the confiscation of funds totalling BTN 3.63 million. The RMA noted it had issued public warnings in 2021 via mainstream and social media against bank account sharing and its consequences, but that misuse continued to escalate. It linked account-sharing networks to facilitating financial crimes and increasing exposure of Bhutanese citizens to scams and fraud, with broader risks to financial system integrity, financial stability and national security. The RMA stated it will continue enforcing stringent measures in collaboration with national law enforcement agencies.
Royal Monetary Authority of Bhutan 2025-02-27
Royal Monetary Authority of Bhutan takes enforcement action against bank account sharing networks with BTN 3.63 million confiscated
The Royal Monetary Authority of Bhutan announced actions against 20 individuals for sharing bank accounts, resulting in 16 convictions and penalties, including confiscation of BTN 3.63 million. Despite warnings, account-sharing networks facilitated financial crimes, risking financial system integrity and national security. The RMA will maintain strict enforcement with national law enforcement agencies.