Bank South Pacific has distanced itself and strongly denies any association with any online investment or scam activities and will not be liable for any transactions with any such individual, groups or associations. That is the response from BSP Group CEO, Mark Robinson in response to queries raised regarding fast money schemes and scams including pyramid schemes that are largely facilitated via Facebook or any other online platforms. BSP wants to make its stand clear that they are not associated with all the online money scams. “While there have been individuals, groups or associations portraying to be associated with BSP or its employees by using the BSP Logo to scheme unsuspecting individuals on Facebook, Messenger, WhatsApp, SMS texts or Email to invest, deposit or transfer funds in exchange for a higher return; the BSP Group maintains that it is not associated with such scam activities and will not be liable for any transactions with such individuals, groups or associations,” Mr Robinson said. With increased fast money schemes and scams including pyramid schemes, there has been a demand on BSP VISA Classic Debit Cards and as a responsible bank, BSP has put in place additional requirements for new customers to meet when applying for a VISA Classic Debit Card because BSP VISA Classic Debit Cards can be used at ATMs globally. “Most of our customers get lured into investing in these fast money schemes so additional measures like provision of a passport on application and questions surrounding customer intent to apply for a VISA Debit Card are put in place to protect their savings”. Mr Robinson advises all to avoid being scammed and to never accept an offer straight away. Everyone is urged to do research and seek independent advice especially if it involves significant amount, time and commitment. “Do not send money to someone you do not know or trust because it is difficult to recover your money from a scammer. Awareness education is important; if you spot a scam, spread the word to your family and friends. Always be alert - Scammers will target you anyhow, anytime and anywhere,” said Mr Robinson. In addition, Bank of Papua New Guinea also continues to warn the public to be cautious and avoid doing business with fast money schemes. The Bank strongly advises the public against putting money in fast money schemes, as they are illegal and fraudulent. People who place their money with promoters or agents of these money schemes risk losing their hard earned money.