Republic Bank (Guyana) Limited (Republic Bank) yesterday announced that some of its customers’ accounts have been compromised as a result of fraudulent online card payment activity.
In a press release yesterday, Republic Bank informed that it has identified cases where some of its customers’ cards were compromised, and their accounts debited.
According to the bank, “Unfortunately these attacks are quite common when there is online card usage.”
Republic Bank, however, assured its customers that it continues to follow existing standard global practices for disputed international debit card transactions, and that all affected customers will be reimbursed sums proven to have been fraudulently withdrawn.
Customers who suspect fraudulent transactions to their accounts are therefore encouraged to contact their nearest branch to validate their transactions and initiate claims where necessary.
The Bank also urged its customers to remain vigilant in monitoring their account activity through their statements of account, or the Bank’s online banking platforms.
Republic Bank expressed its regret at the temporary inconvenience and assured that it will take the necessary steps to regularise all affected accounts using a “well-defined, standard process which is focussed on reducing customer inconvenience.” It also committed to exploring avenues for reducing further exposure while minimising inconvenience to customers.
Republic Bank has been forced to reimburse millions to customers following a series of fraudulent activities on its VISA International Debit Cards in recent years.
