Banks urge high vigilance

The Barbados Bankers Association (TBBA) is cautioning nationals to be vigilant when considering investment offers that promise large returns in a short timeframe with little to no effort and risks.

In recent times, the association has been made aware of certain “schemes” alluring Barbadian nationals.

TBBA President Shimon McIntosh-President said that while Barbadians are encouraged to invest, especially in the advancing local economy, it is crucial that every effort be made to not be negatively impacted by fraudulent activities and schemes such as pyramid and Ponzi schemes.

As such, the TBBA urges the public to undertake the necessary due diligence when making investment decisions, including seeking professional advice, if required.

(PR)