MBANK Reports Competitors to Law Enforcement for Disinformation Campaign

14 November 2024

MBANK (OJSC Commercial Bank KYRGYZSTAN) has formally  lodged a complaint  with the State Committee for National Security to address the dissemination of disinformation about the bank by competitors on foreign internet resources and Telegram channels.

The bank has been countering a targeted disinformation campaign organized by unethical competitors in Kyrgyzstan. By spreading false information, they aim to damage MBANK's reputation, discredit the bank in the eyes of customers and partners, and exploit the situation for their own gain.

MBANK believes that the source of this disinformation is competitors within the country. The information initially surfaced on dubious foreign internet resources and Telegram channels, suggesting an attempt to conceal those behind the disinformation campaign.

MBANK categorically denies all allegations circulated as part of this campaign. These claims are entirely false and unfounded. MBANK is a regulated financial institution operating in full compliance with the laws of the Kyrgyz Republic. The bank adheres to the highest international compliance standards, including AML (Anti-Money Laundering) and anti-sanctions policies. Its operations are transparent and monitored by relevant authorities and international financial institution partners.

MBANK collaborates exclusively with reputable, internationally recognized banks and financial institutions. This enables MBANK to maintain an extensive network of correspondent accounts, facilitating customer transfers in various currencies, including the national currency, US dollars, euros, UAE dirhams, Indonesian rupees, Chinese yuan, and others.

MBANK is the first digital ecosystem bank in Kyrgyzstan. It is dynamically developing and continually expanding its range of banking and non-banking services to provide customers with convenient and accessible service.

To protect its business reputation and customer interests, MBANK has filed a complaint with the State Committee for National Security (SCNS) requesting an investigation and prosecution of those responsible for organizing and disseminating the defamatory information.

MBANK urges the public to critically assess information from questionable sources and rely only on verified facts.