The New Development Bank (NDB) - formerly referred to as the BRICS Development Bank - sent out an alert on Monday for "its counterparts" and the general public to be aware that fraudulent e-mails with money transfer requests are using the name of the bank.
The aim of the bank is to mobilise resources for development projects in BRICS, emerging economies and developing countries.
"The NDB does not send out unsolicited e-mails or other messages asking people to open a personal bank account, transfer money or provide personal information," the NDB said in a statement issued on its behalf by National Treasury.
"The NDB is not a commercial bank and does not provide financing or award money to natural persons nor ask for any favour from potential recipients of funding provided by the bank."
The bank advises anyone who has provided personal information or conducted any transactions based on unauthorised e-mails should contact local law enforcement authorities.
"The bank has no involvement in such fraudulent schemes and cautions the public to be very wary of these and other similar solicitations that falsely claim to be affiliated with the NDB," the bank said.
"The bank does not hold any responsibility with respect to any expense, loss or damage of any kind, which might have occurred in connection with any fraudulent e-mail or other communication that the bank has not sanctioned."