Central Bank of Brunei Darussalam warns public about fake Shariah Compliant Banking Certificate and unauthorised use of its name and logo

The Central Bank of Brunei Darussalam (BDCB) issued an alert after receiving information about an image of a “Shariah Compliant Banking Certificate” purportedly issued by BDCB to certify a company’s incorporation in Brunei Darussalam. BDCB confirmed the certificate is not authentic and was not issued by the central bank. BDCB warned the public to be wary of fraudulent use of its name and logo, noting that unauthorised use, or use of similar names or representations intended to deceive or cause confusion, is an offence under Section 74A of the BDCB Order, 2010, punishable by a fine of up to BND 20,000, imprisonment of up to seven years, or both. It also advised consumers to avoid unlicensed online entities offering financial services and to deal only with financial institutions licensed by BDCB, including by checking the BDCB Alert List, and to report suspected or victimisation cases to the relevant authorities.