KAMPALA, UGANDA — Tuesday, December 3, 2024 — A sophisticated scam has been uncovered, where con artists are using the name of the East African Development Bank (EADB) to swindle unsuspecting individuals out of their hard-earned money.
The scammers, who are operating on social media and other online platforms, are posing as representatives of the EADB and offering fake business contracts, scholarships, and employment opportunities. They are then requesting payment from the victims, claiming that it is necessary to facilitate the processing of the fake opportunities.
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The EADB has issued a public notice warning the public about the scam and advising individuals to be cautious when responding to unsolicited offers on social media. The bank emphasized that it has not established any programs that require payment from applicants and that all available opportunities are listed on its official website.
“Members of the public are hereby advised to note that any communication or correspondence through social media or other media offering business contracts, scholarships, interviews or employment, and requesting payment on behalf of the Bank, is fraudulent and does not originate from EADB,” the bank warned.
The scammers are using sophisticated tactics to deceive their victims, including creating fake social media profiles and websites that appear to be legitimate. They are also using the names and logos of reputable organizations, including the EADB, to lend credibility to their scams.
The EADB has advised individuals to be vigilant and to verify the authenticity of any offers they receive on social media. The bank has also encouraged individuals to report any suspicious activity to the nearest law enforcement agency.
The scam has raised concerns about the safety of online transactions and the need for individuals to be cautious when responding to unsolicited offers on social media. It has also highlighted the need for financial institutions and other organizations to be proactive in protecting their customers from scams.
In a statement, the EADB urged individuals to be cautious and to verify the authenticity of any offers they receive on social media. “We urge members of the public to be vigilant and to report any suspicious activity to the nearest law enforcement agency,” the bank said.
The EADB has also provided tips on how to avoid falling victim to online scams, including:
- Verifying the authenticity of any offers received on social media
- Being cautious of unsolicited offers that require payment
- Not responding to emails or messages that ask for personal or financial information
- Keeping software and security systems up to date
- Using strong and unique passwords for all online accounts
