Bank Al Maghrib Issues Warning Against Fraudulent Investment Platform

Bank Al Maghrib has warned about a fraudulent investment platform falsely linked to it. The bank stated that the deceptive content misuses its identity and that the financial claims of the platform are untrue. BAM has reiterated its commitment to take necessary legal action against such scams while previously addressing similar fraudulent incidents.

Bank Al Maghrib (BAM), the central bank of Morocco, has issued a warning regarding deceptive media content promoting a fraudulent investment platform falsely associated with its name. The bank highlighted that the material exploits its identity and the image of its governor and may have been generated using artificial intelligence technologies. BAM categorically stated that the financial promises made by this phony platform are completely baseless and misleading.

In its commitment to uphold its reputation, BAM declared it will take necessary legal actions against such fraud. The institution has previously issued similar warnings regarding various fraudulent schemes. In 2021, for instance, BAM disclaimed its association with messages circulating via mobile platforms that invited individuals to visit bank branches for prizes.

Additionally, Bank Al Maghrib has been proactive in combating electronic money fraud by advising banks to implement precautionary measures. To further enhance security measures, BAM has signed a protocol agreement with Morocco’s General Directorate of National Security (DGSN). This agreement aims to provide access to advanced digital services linked to the national electronic identity card system, thus reinforcing the protection of the bank and ensuring the secure transport of funds nationwide.

In summary, Bank Al Maghrib has taken a firm stand against fraudulent practices targeting its image by issuing a warning about a false investment platform. The bank’s proactive measures, including legal action and collaboration with security authorities, underscore its commitment to safeguarding its integrity and the interests of the Moroccan public. Historical precedents illustrate BAM’s ongoing efforts to combat similar fraudulent schemes.

Original Source: www.moroccoworldnews.com