NCB Warns Of New Fraud Involving Account Holders

NCB warns of new fraud: The Fraud Prevention Unit at the National Commercial Bank (NCB) is now advanced in an investigation that sees NCB clients working alongside fraudsters in an effort to obtain large sums of money illegally from the bank.

A member of the Bank’s Fraud Prevention Unit, Dane Nicholson tells CVM LIVE that the perpetrators recruit the account holders mostly on FaceBook and Instagram.

If the account holder does not have enough money to qualify them for the loan, the fraudsters will opt to deposit large sums of money into the account. This then makes the individual eligible for an NBC fast cash loan.

The loan amount can go up to three hundred thousand dollars.

The fraudsters will then give a portion of the money to the account holder, Nicholson says in most cases up to 10 per cent.

While the practice is not specific to any particular area, Portmore, St. Catherine and the Corporate Area top the list.

He says those responsible are openly advertising on social media.

The fraud prevention expert says during their investigation NCB customers have admitted to partaking in the attempted fraud.

CVM LIVE recently visited one of the pages highlighted by the expert.

The page operator was asked if he or she works at the bank and the response was no.

However, the individual went on to provide instructions on how the illicit process works.

The fraud prevention expert says the economic blow caused by the pandemic and the festive season, see criminals finding new ways of sourcing illegal funds.

But there is a strong warning for those involved.