THE Central Bank of Trinidad and Tobago (CBTT) is warning the public of the risks they face if they buy foreign exchange (forex) from unauthorised sellers.

CBTT posted a notice on its Facebook page and placed advertisements in the daily newspapers saying it, “has observed with concern an increasing number of advertisements on social media platforms purporting to offer foreign exchange to the public.”

The bank added buying, selling, borrowing and lending foreign exchange without the required authorisation of the CBTT is an offence under the Exchange Control Act.