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FID confirms widespread offline point of sale fraud

Courtney Smith, Director of Legal Services, Financial Investigations Division, and Dane Nicholson, Chairman, Anti-Fraud Committee, Jamaica Bankers Association
 
The Financial Investigations Division [FID] has confirmed that cases of fraud using Point of Sale card machines on an offline basis are widespread in Jamaica.
 
The Sunday Gleaner reported that multiple fraudulent schemes uncovered in recent months have left a number of Jamaican banking institutions and their customers counting their losses.
 
Several people have already been arrested and charged in relation to the scheme.
 
Director of Legal Services at the FID Courtney Smith has conceded that the illicit activity has implications for the financial sector.
 
Mr Smith, who spoke Monday on Radio Jamaica's Beyond the Headlines, said people found to be involved in the fraudulent activity could be slapped with multiple charges.
 
Dane Nicholson, Chairman of the Anti-Fraud Committee of the Jamaica Bankers Association, who also spoke on Beyond the Headlines, said the average consumer is not affected by this fraud.
 
He said it is usually unscrupulous merchants collude who are involved in the illicit activity.
 
 
 
 
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