Bhutanese Citizens Warned of Financial Scams Amidst Increased Emigration
In the past 14 months, the Royal Bhutan Police have registered a total of 28 financial scam cases, resulting in a substantial loss of Nu 10 Million for victims. With the number of Bhutanese people seeking opportunities abroad on the rise, scammers have found easier prey among the population. In the first two and a half months of 2024 alone, 13 financial scam cases have been reported.
Scams on the Rise
The Royal Bhutan Police have issued a warning to the public to be vigilant against deceitful tactics, such as:
- False claims of lottery wins
- Hyped investment opportunities
- Marketing of cryptocurrencies
Scammers commonly contact potential victims, pretending to be officials from various organizations and requesting personal information. They have been posing as officials from:
- VISA offices
- Telecom companies
Real-Life Victim Experience
One such victim, a student, shared her harrowing experience. While waiting for her visa to study abroad, she received a call from someone claiming to be from the VISA department. Duped by the scammer, she provided all the details they asked for without suspicion. After some time, she received a message stating that her money had been debited. When she contacted them back, they kept changing the subject and even identified themselves as telecom officials at one point, while demanding the account numbers and other details of her siblings, threatening her with the non-return of her money if she did not comply.
The case was reported to the Department of Law and Order (DLO), which subsequently froze the scammer’s bank account.
Collaboration to Prevent Financial Scams
Various agencies and financial institutions are working together to raise awareness and prevent further financial scams. Organizations involved include:
- Department of Law and Order (DLO)
- Royal Monetary Authority
- GovTech
They are collectively implementing measures such as:
- Public notifications
- Bulk SMS
Prevention Measures
The Department of Law and Order issued a notification on Feb 9th, 2024, urging people not to share OTPs with anyone, including those claiming to be from bank officials. Banks, on their end, are sending bulk SMS messages to inform their customers that bank officials will never ask for OTPs or mobile app login pins.
The Royal Monetary Authority advises people to refrain from lending, sharing, or renting out their bank accounts and to report any suspicious activities to the appropriate authorities.
Staying Vigilant in a Digital World
It’s essential that Bhutanese citizens remain cautious and vigilant against financial scams, especially in this digital age. Be informed and report any suspicious activities or individuals to the appropriate authorities.