Business Loan Scam

Business loan scam typically involves a scammer purporting to be a financial institution (e.g: Bank of China (Malaysia) Berhad) ("Scammer") offering attractive business loan / product to companies / individual ("Targetted Borrower"). Example of the so-called business loan / products offered are "non-recourse loan", "non-Recourse cash loan program" or some sort of unsecuritised loan designed to make it very appealing to the Targetted Borrower. The Targetted Borrower may even be asked to pay an upfront fee to the Scammer for the purposes of "releasing the approved loan amount".

How to protect yourself?

· DO NOT click on any links from unsolicited social media posts, emails or text messages even if the offer is extremely attractive.

· DO NOT share any personal information or data e.g., personal identity number, company details, account statement etc to the person offering the loan.

· DO NOT make any upfront payment in exchange for disbursement of loan. Please note that Bank of China (Malaysia) Berhad ("the Bank") does not ask for upfront payment for disbursement of loan sum.

When in doubt, always verify the offer/ information with the Bank via our customer service or relationship manager.