Don’t listen to scammers: Bakani


CENTRAL Bank Governor Loi Bakani, pictured, has urged people not to listen to scammers on the streets claiming that they have money parked at the bank.
Bakani said he had been receiving many text messages and calls from people enquiring about their money or to meet them.
“I never texted you or sent these texts,” he said.
“There are people who impersonate either myself or others to talk you into giving them money.
“You see these people hanging around at public places and parks at Boroko.
“You will meet them and this guy with a folder.
“He is tricking you to collect money.
“He is living in a hotel and flying around while you are still waiting for your money.
“We just want to emphasise that you will wait and wait and die, but you will never get your money back.
“These are the kind of scams that come in different forms.”
Bakani said the biggest scam was U-Vistract in Bougainville which was slowly dying out.
He said the most-recent scam was the timber rights’ purchase (TRP) where people were claiming that prior to PNG’s Independence in 1975, under the TRP, the administration at that time deducted some money and invested in treasury bonds.
“We do not have those Treasury bonds here,” he said.
“After Independence and we took over, those kind of things were never transferred to us.”
He said hundreds of letters came into BPNG from people claiming to have investments with the bank.
“It has reached a point where some of them are confronting our staff, threatening our staff,” Bakani said.
“They come from all regions: Highlands, New Guinea Islands, Momase and Southern, mainly Gulf.”
Bakani said Bank of Papua New Guinea did not do banking for individuals or groups but was a bank for Government only.
“Any individuals claiming to have investments that are being withheld by us, or are telling their people that they are waiting for us to give them their money back, re all false claims,” he said.
“It is a scam, fraud. Do not easily fall victim to these kind of people who are promoting scams or fraud.”


  • Correct. Even scams come from outside PNG via emails and internet. Banks should continue to educate the public to be aware of these scammers. Thanks.

  • it indeed is sad to note this message from the Aussie’s mouth. people with different rank and file were fooled by scammers as you referred to and have being waiting since and many have already died without benefiting from the windfall being promised by these scammers.

    since there is no record any monies kept or saved with BPNG under scams available continue to lure public interest with false promises – what is the way forward that could really scare these con artists to stop the nonsense?
    just my thoughts..not a member of any scam.

  • There are conn artist out there on the streets who claim to have invested in dubious schemes and are expecting returns on their investments in, not hundred thousand, not even hundred million but they talk in billions. How can someone trust these conn artist, when our countries annual budget is around 15 0r 16 billion but the conn artist claim to have hundred billion transmitted from overseas bank account and ready to be paid out by BPNG. Please do not waist your breath and your time by believing in these so called conn artist.

    I have seen people even investing their last K5 kina or K10 with these conn artist. At the end of the day, conn artist live a luxury life and and invester is worse off by investing the last of his or her money.

    Please people stop this none sense.

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