Bank Al Maghrib Issues Warning Against Fraudulent Investment Platform

Bank Al Maghrib (BAM) has warned about a fraudulent investment platform falsely linked to its name. The institution denounced the misleading media content that promises financial gains, stating the claims are false. BAM has a history of countering such fraud and has strengthened its security measures through a partnership with the General Directorate of National Security (DGSN).

Rabat – Morocco’s central bank, Bank Al Maghrib (BAM), has issued a warning regarding the dissemination of fraudulent media content promoting a fake investment platform falsely attributed to the bank. The institution highlighted that the media content improperly employs its identity, including the image of its governor, and likely utilizes artificial intelligence techniques to generate its misleading claims.

The bank clarified that the content in question “makes false promises” of financial gains connected to the alleged investment platform. BAM reaffirmed that the claims made in the article are entirely baseless and have no connection to its operations. To safeguard its integrity and rights, the bank committed to taking all necessary measures.

BAM has previously issued similar warnings to counteract fraudulent schemes. In 2021, the bank denied responsibility for a mobile message that enticed citizens to visit its branches to claim a prize. Furthermore, prior warnings have urged financial institutions to be vigilant against electronic money fraud.

To strengthen its defenses, Bank Al Maghrib entered into a protocol agreement with Morocco’s General Directorate of National Security (DGSN). This collaboration aims to enhance security measures and streamline operations. One of the key outcomes is to improve the bank’s access to advanced digital services linked to Morocco’s electronic national identity card system. Additionally, the agreement focuses on securing the bank’s administrative facilities and ensuring the safe transport of funds within Morocco.

In summary, Bank Al Maghrib has proactively addressed the rise of fraudulent investment platforms falsely utilizing its name. The central bank emphasizes the necessity of preventing misinformation and protecting its reputation through rigorous actions. The collaboration with national security thus enhances its operational safety, underscoring the institution’s ongoing commitment to combatting fraud in the financial sector.

Original Source: www.moroccoworldnews.com