The Bank of Papua New Guinea (BPNG) issues this urgent public advisory regarding the rising number of unregulated “investment opportunities” circulating on platforms such as WhatsApp, Facebook, and Telegram. These schemes often promise extremely high returns within short timeframes—such as turning K30,000 into K270,000 in 28 hours.
THESE SCHEMES ARE NOT LICENSED, AUTHORISED, OR REGULATED BY THE BANK OF PAPUA NEW GUINEA.
These activities are often promoted by entities or individuals who are not registered financial service providers. They typically involve:
- Unrealistic returns (e.g. up to 800% profit in 28 hours)
- Lack of transparency on how funds are managed or invested
- Pressure tactics or incentives for early or larger investments
- Requests for direct bank transfers
These schemes carry a very high risk of fraud and financial loss and often operate as Ponzi or pyramid schemes, where funds from new investors are used to pay fake 'returns' to earlier participants.
Key Warnings:
✅ The Bank of PNG has not licensed any Virtual Asset Service Providers (VASPs) or cryptocurrency-based investment platforms at this time.
✅ Participation in these schemes is entirely at your own risk.
✅ You may have no recourse if you lose money, as these entities are not under any financial supervision.
WHAT YOU SHOULD DO:
✅ Always verify the licence or registration of any financial service provider with the Bank of Papua New Guinea.
✅ Be sceptical of any scheme promising guaranteed or high returns with little or no risk.
✅ Report suspicious activity to info@bankpng.gov.pg or your nearest law enforcement agency.
CRIMINAL LIABILITY:
Operating an unlicensed financial services business in Papua New Guinea is a breach of national financial laws and may result in criminal prosecution, civil penalties, and asset recovery proceedings.
Protect yourself. Protect your community.
THINK BEFORE YOU INVEST.
Issued by the Bank of Papua New Guinea
06 July 2025