How to Watch Out For Scams Misrepresenting the World Bank Group
Note: The World Bank Group has learned that fraudulent websites are falsely using IFC’s name and branding to offer purported grants. The IFC does not provide grants or donations.
The World Bank Group is not affiliated with these websites and cautions the public against engaging with them. For official information, visit www.ifc.org or www.worldbank.org
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The World Bank Group is cautioning the public to be wary of these and other similar solicitations that falsely claim to be affiliated with the World Bank Group or any member of the World Bank Group (the International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association, the Multilateral Investment Guarantee Agency, and the International Centre for the Settlement of Investment Disputes). Rest assured that the World Bank Group does not solicit money, personal information or bank account information from individuals nor extends any loans or credit lines to individuals. If you suspect being targeted by scammers, please contact local law enforcement authorities.
Watch out for Common Red Flags
Social Media and Email Scams
Phone, Text, and Letter Scams
Frequently Asked Questions About Scams
Yes, individuals and businesses should take care not to fall victim to investment scams, known as Advance Fee Fraud schemes. Some of these schemes misuse our name or falsely claim to be affiliated with the World Bank Group.
Many scams, known as Advance Fee Fraud schemes, originate in Nigeria and are known as "Nigerian scams" or "4-1-9" letters after the section of the Nigerian penal code that deals with this type of fraud. Other fraud schemes have originated in Cote d'Ivoire and Sierra Leone.
Police estimate that thousands of these solicitations are sent by fax or email every week and are addressed to individuals and companies around the world. Only a very small fraction actually involves the use of the Bank's name.
Two fraudulent schemes have surfaced in South Africa. These involve solicitations to open a personal bank account at the Bank, which is not a commercial bank, as well as telephone messages left by perpetrators notifying potential victims that they have won money that can be redeemed at the World Bank.
Recently, a fraudulent scheme took place in South Korea. The scammer was using the name of the World Bank Inspection Panel and its Chairperson, to solicit a payment from the victim for the victim to have access to an approved credit. The World Bank Inspection Panel is an independent complaints mechanism for people and communities who believe that their environment or livelihood have been, or are likely to be, adversely affected by a World Bank-funded project. The World Bank Inspection Panel does not engage in any kind of commercial transactions, including the one alluded to in such letter and it does not solicit payments from third parties.
We've seen increased use of sophisticated forms and letterhead to send what appears to be legitimate World Bank Group correspondence, as well as several schemes that reference the Bank. Also, scam artists sometimes falsely represent themselves as Bank auditors or members of the Bank West African Regional Delegation.
Recently, correspondence was sent by fax to creditors of West African governments, claiming that the senders were empowered by these governments to repay past debts. Official-looking Bank letterhead was used.
Typically, the solicitations asked potential victims to provide personal information such as signatures or bank account information, and to pay certain advance fees, often described as "processing fees." In return, the potential victim was promised sums of money that the person soliciting the "fees" had no intention of paying. In some cases, those seeking the funds used the names of actual Bank staff members to sign the letters in order to bolster their credibility.
Here's an example of such a scam using official-looking Bank letterhead and signature. See example (pdf).
In South Africa, one new scheme involves notification in a message left on a cell phone that the recipient has won money to be paid by the Bank. The message directs the person to call a certain number to arrange payment. This scam was uncovered when the potential victim arrived at a Bank office in country seeking payment, because the telephone number in another country, which was left on the person’s cell phone, fortunately failed to connect.
View an example (pdf) of this type of personal banking scheme.
In South Korea, the scammer sent a letter to the victim using the World Bank Inspection Panel’s logo and the name of its Chairperson. The scammer was using the letter to ask the victim to make a payment for the victim to be able to receive a credit approved in its name. The matter is under investigation.
Here's the communication sent by the scammer using official-looking World Bank Inspection Panel’s logo: See example (pdf).
We have no involvement in such schemes, and we caution the public to be very wary of these and other similar solicitations that falsely claim to be affiliated with the Bank or any member of the World Bank Group.
If you receive what seems to be an unusual money request from person(s) representing to be members of the World Bank Group, or have concerns as to the authenticity of the World Bank Group's actual involvement in a particular transaction, solicitation, notification, directive or request, do NOT respond to the request and do NOT send any money or provide any of your personal bank account details.
If you would like to verify whether any particular individual is a World Bank employee, please contact the World Bank's Human Resources Service Center at 202-473-2222 or hroperations@worldbank.org The HR Service Center provides employment verification for World Bank employees.
If you would like to verify whether a particular individual who claims to represent the World Bank is a World Bank employee, please contact the World Bank's Human Resources Service Center at 202-473-2222 or hroperations@worldbank.org. The HR Service Center provides employment verification for World Bank employees.
The World Bank does not typically investigate these types of scams. If you feel you have been the victim of such a scam you should contact local law enforcement authorities.
Further information on these types of schemes can be found on various websites, including those of the FBI, the US Treasury and the Securities and Exchange Commission:
https://www.fbi.gov/scams-and-safety/common-fraud-schemes/advance-fee-schemes https://www.occ.gov/topics/consumer-protection/fraud-resources/advance-fee-fraud.html
https://www.sec.gov/fast-answers/answersadvancefeefraudhtm.html
There is a worldwide scheme involving fraudulent job postings and offers purporting to be from or associated with the World Bank Group. The scheme is used to falsely obtain money and/or personal information.
The World Bank Group does not request any amount of money as part of its recruitment process.
Official communication from the World Bank Group will always come from emails ending in @worldbankgroup.org, @worldbank.org, or @ifc.org. If you believe that you are a potential victim of a fraudulent job offer, please forward any related information you have received to ethics_helpline@worldbank.org.