Data released by the Bank of Jamaica revealed that money fraudulently taken from the financial sector jumped to $1.73 billion during the financial year ended March 31, 2023.
Cheque fraud, which accounted for $401 million during the period, grew rapidly to become the second highest instrument used to commit financial sector fraud.
A total $658 million was stolen from the financial sector due to credit card fraud, $305 million from debit card fraud and 262 million through internet banking fraud.
The BOJ says some $145 million was stolen by physical attacks, including armed robberies and attempts at ATM locations.
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