YEREVAN, November 14. /ARKA/. Armenian Central Bank said today after examining a long list of complaints and statements from citizens it found out that a company named Citi Bike publicly offers “profit models”, “super bonuses” and some kind of “perks” in return for citizens’ funds.
“Given that this company, in fact, raises funds from the public, we would like to inform our citizens that the Central Bank has not granted Citi Bike a license to carry out any type of activity, hence, the latter operates outside Central Bank’s control,” the regulator said in a statement.
For this reason, the Central Bank said it cannot control the risks arising from the company’s activities and ensure proper protection of clients’ interests.
‘This means that citizens, entrusting their funds to such organizations, act solely at their own risk, which can lead to financial damage and severe social consequences,’ it warned.To avoid fraud and financial losses, the regulator advises to use only official sources of information. It said one can find the list of licensed financial organizations on its official website. They are the entities, which have the right to make public offers on the territory of Armenia and engage in activities permitted by law. -0-
