Money scams on the rise in Solomon Islands
The Central Bank of Solomon Islands is warning people to stay away from schemes promising fast cash.
The Central Bank of Solomon Islands is warning people not to invest in the fraudulent money schemes that continue to plague the country.
The latest scheme, JJ Ark investment, joins others such as Five Golden Dreams and the king of them all, the Family Charity Fund which saw thousands of Solomon Islanders, some in high places duped out on their savings in the late 1990s.
14 years later some are still hoping against hope to receive their payments.
The Director of the Central Bank's Financial Intelligence Unit, Jimmy Sendersley, told Koroi Hawkins about the latest get rich quick scheme.
JIMMY SENDERSLEY: This scheme known as the JJ Ark Investment is currently being promoted in the Guadalcanal Plains. The promoters are asking people to pay in 250 dollars (approx US $34) and they are promised with a return of 5000 dollars(approx US $682) for a ticket.
KOROI HAWKINS: What is the advice that the Central Bank and your unit is putting out for the Public?
JS: It is the right time for such financial schemes to be promoted in our country. In times when people are desperate to find ends meet. When they are desperate to have money to send their children to schools, for school fees and things like that. The advice that I would want to give to the public, just think before they put their money in any sorts of investment. It is better to ask those people who are financial knowledgeable. If I may say they can call our office, Central Bank so that we can give them advices as to if the, whatever financial arrangements that they have with people are genuine. They should not just accept promises of huge returns. Whatever that sounds too good to be true, people should not believe them.
KH: What about in terms of action? What about the law, are people protected from these schemes?
JS: What we are doing, we are protecting the public in just giving out informations to them but it is up to individuals to decide if they want to be part of this scheme or not. I would advise also that, people should take their complaints to Police. I believe that if people are carrying on business that are fraudulent then they are supposed to be charged under some kind of penal code and take them to court. So people have to make complaints to police before police can work on those complaints.
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