Bank of Sierra Leone Warns Public Against Illegal Investment Scheme ‘SUPER ADVERTIS’

The Bank of Sierra Leone (BSL) has issued a stern warning to the public regarding an unlicensed online entity, SUPER ADVERTIS, soliciting investments illegally through mobile money platforms.

Unlicensed Entity ‘SUPER ADVERTIS’

The central bank has emphasized that SUPER ADVERTIS is not licensed by the BSL to operate any financial activities, making it a potentially fraudulent entity. The entity reportedly lures individuals into a secretive financial scheme using mobile money platforms, accepting deposits from the public. This scheme violates the law and poses significant risks to the public’s finances.

Exercise Caution and Verify Licenses

The BSL urges the public to exercise extreme caution and avoid any financial dealings with SUPER ADVERTIS. To safeguard their assets, everyone should ensure that any financial institution they engage with visibly displays a valid BSL-issued license before entering into any transaction. The central bank’s warning covers all unlicensed financial activities in Sierra Leone, which pose a serious threat to the country’s financial stability and safety.

Rising Concerns with Mobile Money Transactions

As mobile money transactions gain popularity in Africa, financial authorities face the challenge of ensuring user protection and preventing fraudulent schemes. This case serves as a reminder to Sierra Leoneans to prioritize caution and due diligence when considering investment opportunities, particularly those involving mobile money or operating outside the official financial system.

BSL’s Timely Intervention

The BSL’s intervention is a crucial step in raising awareness and safeguarding the public against the growing concern of unregulated financial activities.