Republic Bank Guyana confirms Visa fraud activity

Republic Bank (Guyana) Limited Wednesday said it had been able to “quickly identify” cases where its customers had been impacted by recent fraudulent activity on its Visa International Debit Cards.

In a statement, the bank gave no details as to when the fraudulent activity occurred but said that it was “able to quickly identify cases where customers’ cards were compromised and was able to effectively minimise the risk to other customers”

It said it was taking the necessary steps to regularise all affected accounts using “a well-defined, standard process, focussed on reducing customer inconvenience.

“The Bank regrets the inconvenience to its customers and advises that impacted customers will be asked to confirm and validate their transactions to assist with this process”

It also advised that in the interim, additional security measures have been put in place to reduce further impact, and as a result, some customers may experience interruptions in service levels.

The Trinidad-headquartered bank said that it will continue to ensure that “the most up-to-date security is available through all of its channels toward the financial safety of the banking public” and was also taking the opportunity to remind customers of the need to be vigilant when using their debit cards and monitoring their account activity.

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