A link circulating on WhatsApp, and shared on X and Facebook alleges that the World Bank Foundation is running a promotional giveaway, offering financial aid to lucky winners with a screenshot of the transaction.
The text of the message reads, ‘Hello guys , kumbe hii promotion ya world bank ni ya ukweli wallai !!! , Imagine huwa nalenga, nishhaapata already Angelieni screen shot message”, which translates to, ‘Hello guys, this promotion by the World Bank is real. I have been ignoring it. I have already received something. Look at the message in the screenshot.’
Clicking on the message initiates a WhatsApp conversation with a number that is using the World Bank’s WhatsApp broadcast channel image, but is a Kenyan number.
Clicking on the link opens a WhatsApp message to the number, which the user has to send first to engage with the channel. Once a conversation is initiated, the user receives messages on how to win cash prizes, instructing them to provide personal details, including phone numbers and the county they are located in for ‘verification’.
,
Curiously, the sender also attempts to initiate the Facebook account reset process by requesting for a reset code, claiming they need this to ‘verify’ the award. In reality, this code is meant to reset a user’s Facebook password through the number linked to a user’s account. Sharing it would result in the hijacking of a user’s account, which presumably would allow them to use this account to scam other users.
The message, filled with emojis and inconsistent formatting, further asks winners to pay a registration fee ranging from KSH 590 to KSH 1,390 in order to receive their “award,” raising concerns about its legitimacy. Additionally, the claim falsely suggests that the foundation is backed by UNICEF, AMREF, and World Vision.
Background
The World Bank is a global financial institution that provides funding, technical expertise, and policy advice to developing countries. Its primary goal is to reduce poverty and support economic development through projects in infrastructure, education, healthcare, and agriculture.
The World Bank provides funding through loans, grants, and aid packages to support economic development and social welfare in various countries. These funds are typically allocated to large-scale projects such as infrastructure development, healthcare improvements, education support, and crisis response, including natural disasters and pandemics. Initially, the World Bank relied on contributions from wealthier member states as its primary funding source. However, in recent years, it has increasingly raised funds from capital markets. With its AAA credit rating, the World Bank can secure capital at low interest rates, allowing it to offer financial assistance to countries on favorable terms.
While the World Bank does have a genuine WhatsApp broadcast channel, this operation appeats to be a phishing campaign, a scam where attackers trick people into revealing sensitive information such as passwords, credit card details, or personal data. Scammers often pose as legitimate organizations, sending fake emails, messages, or websites that appear authentic. Their goal is to steal login credentials or financial information by making the victim unknowingly provide access. Phishing can lead to identity theft, financial loss, or unauthorized access to personal and business accounts. To stay safe, always verify sources before clicking on links, avoid sharing sensitive information online, and enable two-factor authentication for extra security.
Verification
On December 12, 2023, the World Bank issued a statement warning about online loan scams misusing its name and logo, particularly in Bangladesh. Scammers have been falsely offering loans in exchange for fees, despite the fact that the World Bank does not provide loans directly to individuals or request personal financial information. Fraudsters also create fake Facebook pages and use other deceptive tactics to impersonate the organization and solicit payments through mobile money and mobile banking apps. The World Bank has made it clear that it has no involvement in such schemes and urges the public to remain cautious of fraudulent solicitations claiming to be affiliated with it.
The World Bank is warning general public of scams offering loans from the World Bank in exchange of fees. The World Bank does not provide loans directly to individuals and does not ask for any personal financial information.Perpetrators have created Facebook pages and are using other techniques to impersonate the World Bank and lure payments using mobile banking. The World Bank has no involvement in such schemes, and we would like to caution you to be wary of these and other similar solicitations that falsely claim to be affiliated with the World Bank – World Bank official statement
These kinds of scams are known as Advance Fee Fraud schemes. They invoke the institution’s name or claim to be affiliated with credible institutions and organizations, but the links in the messages direct users to unrelated pages, from where their money, personal information and online accounts may be stolen.
The World Bank provides loans, grants, and aid to governments and large institutions to finance development projects. It does not issue funds directly to individuals, and also does not solicit for transactions to be sent to specific phone numbers, reinforcing that such requests are clear signs of a scam.
While the claim is presented as a genuine financial aid program, it raises red flags typical of online scams. These include requests for upfront payments before any funds are received, which is a common tactic used by fraudsters. Additionally, poor grammar, formatting errors, and inconsistent branding indicate a lack of professionalism, further casting doubt on its authenticity. Another warning sign is the absence of an official website or verifiable contact details, making it difficult to confirm the legitimacy of the offer. Finally, the scam relies on impersonating a well-known financial institution, such as the World Bank, to gain credibility and deceive individuals into providing personal or financial information.
Verdict
The link circulating on WhatsApp claiming that the World Bank is offering financial aid to individuals is False .
Add comment