The Central Bank of Brunei Darussalam (BDCB) has updated its Alert List, adding Fast Privacy Online Loan BN (also operating as Privacy Fast Loan Online BN, Loan Jaya BN, and Online Loan Amanah and Trusted) and Online Loan Jaya Trusted BN. The Alert List identifies companies and individuals that, based on information available to BDCB at the time of publication, may be or may have been wrongly perceived as being licensed, authorised or regulated by BDCB, without prejudice to any further assessment. BDCB reiterated that the public should only deal with financial institutions licensed by the central bank and avoid unlicensed providers of financial services, particularly those with characteristics of get-rich-quick or pyramid schemes. It highlighted that money lending, money changing and money remittance are among the financial products and services that must be licensed by BDCB, and warned that consumers do not have protection under BDCB’s regulatory framework when dealing with unlicensed or unregulated entities. The updated Alert List is available on the BDCB website, and BDCB indicated it will continue monitoring suspicious or unlicensed financial activities and encouraged the public to report relevant information.

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