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Warning on Unregulated Entity "Litefinance Brunei"


PRESS RELEASE

WARNING ON UNREGULATED ENTITY "LITEFINANCE BRUNEI"

 

  1. It has come to Autoriti Monetari Brunei Darussalam (AMBD)'s attention that an event "Seminar Dagangan Forex Eksklusif Brunei 2019" or "Exclusive Seminar on Forex Business, Brunei 2019" is being organised by LiteFinance Brunei. With this, AMBD would like to inform the members of the public that LiteFinance Brunei and its related entities are not licensed in Brunei Darussalam to provide financial services.

  2. AMBD would like to remind the public to be careful when participating in any schemes or financial transactions. It is important to check the legitimacy of such individuals or entities as well as be aware of the inherent risks associated before agreeing into any financial transactions. If the entity is based outside of Brunei Darussalam, please check with the overseas authority if it is regulated. 

  3. AMBD would also like to advise the public to deal only with persons that are regulated by AMBD. Members of the public who choose to deal with unlicensed and unregulated persons offering financial services or products may not have the protection afforded under the regulatory framework administered by AMBD. AMBD's regulatory framework aims to safeguard the interests of investors by ensuring that only competent and qualified persons may provide financial services.

  4. The list of persons and institutions licensed by AMBD may be obtained through the AMBD App and the AMBD Alert List, which both can be downloaded free of charge on both 'App Store' for iPhone users and 'Google Playstore' for Android users; or visit AMBD's website at 

  5. AMBD remains committed to the financial stability of Brunei Darussalam, and to safeguarding Brunei Darussalam's financial system and the interests of financial consumers. AMBD will also continue to actively monitor any suspicious or unlicensed financial activities in Brunei Darussalam. If the public have any information on unlicensed financial activities, please contact AMBD at 2388388 or email us at .

 

 

Autoriti Monetari Brunei Darussalam

Date:                     5 Safar 1441H / 4 October 2019M

Reference:         AMBD/COMMS/3


Download Malay version here

Download English versionhere

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