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Royal Bank cracks down on ATM fraud

Published: 
Tuesday, May 29, 2018

Darryl White, managing director, RBC Royal Bank (T&T), yesterday assured the bank’s customers that their money is safe. He also warned that fraudsters will feel the full brunt of the law.

His comments came after four people were charged with ATM fraud in which an empty envelope was deposited following which monies were withdrawn.

In an interview, White said the bank’s security systems have been increased and they are working closely with the police.

“It appears to be some clearly organised effort,” he said.

According to White, within the last two weeks the bank noticed a “higher than usual amount” of incidents which triggered security systems. Suspicious activity was detected mainly in north Trinidad but also in the east of the country.

Although White believes the majority of citizens are law abiding, he said: “In order for our customers to get the best experience when a deposit is made at an ATM, for certain customers based on profiles we would have allowed you access to a relatively small amount of funds—low to mid four-figure amounts.”

He said once a bank card is used the transaction can be traced.

“We take it that an ATM card is used with the full consent of the owner unless there is overwhelming evidence that points otherwise,” he said.

White is convinced it was not a glitch in the bank’s system that resulted in the incidents but all out fraud.

“It’s a criminal offence and they will be prosecuted,” he said.

He thanked members of the public who passed on pertinent information to the bank.

“I’m happy to say there are a fair amount of whistleblowers out there,” he added.

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