Title: Bhutanese Expats Fall Victim to Financial Scams: A Warning from the Royal Bhutan Police

Overview

Bhutanese expats, in pursuit of better opportunities abroad, have unknowingly become targets for financial scammers. The Royal Bhutan Police have reported an increase in financial scam cases, with losses totaling approximately Nu 10 M so far this year, and around 15 similar cases reported in the past year.

Scam Tactics

Scammers employ various tactics to deceive unsuspecting victims:

• False lottery promises: Scammers falsely promise lottery winnings or substantial returns on high-risk investments.
• Virtual currencies: Scammers promote virtual currencies like Bitcoin as lucrative investment opportunities.
• Visa scams: Scammers pose as visa officers and request sensitive financial information.

Real-life Examples of Financial Scams

One recorded instance involved a student who fell victim to a visa scam:

1. Call from “visa department” officials
2. Disclosure of personal and financial information
3. Threats if siblings do not comply with demands
4. Reporting to the Department of Law and Order
5. Scammer’s bank account frozen

Public Warnings

Department of Law and Order

The Department of Law and Order issued a public notification warning against sharing One Time Passwords (OTPs) with unknown individuals, even when calls claim to be from bank officials. Banks also send bulk SMS messages to inform customers that their officials will never ask for OTPs or mobile app login pins.

Royal Monetary Authority

The Royal Monetary Authority urged citizens not to lend, share, or rent out their bank accounts to third parties, as this could facilitate fraudsters in carrying out illegal transactions and result in potential prosecution.

Protecting Yourself

As Bhutanese citizens continue to pursue opportunities abroad, stay informed and vigilant against potential financial scams:

1. Be cautious when dealing with unknown individuals, particularly over the phone or online.
2. Share personal and financial information only with trusted sources.
3. Reach out to law enforcement agencies or financial institutions for advice when uncertain about a potential scam.
4. Regularly monitor your bank statements and financial transactions to detect any unauthorized activity.

Conclusion

Through increased collaboration between law enforcement agencies, financial institutions, and citizens, we can safeguard our hard-earned money and protect ourselves from falling victim to financial scams. By staying informed and remaining vigilant, we can prevent ourselves and our loved ones from becoming victims.