The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

Royal Bank of Canada (RBC) yesterday confirmed that “a number” of its Bahamian customers have fallen victim to fraud and loss after their Visa cards were exposed to a ‘skimming’ attack.

The Canadian-owned bank, in a statement, said it is “working with the authorities as they investigate this attack” after several Bahamians complained on social media about thousands of dollars being withdrawn from their accounts without their knowledge or permission.

Lynette Rolle wrote in a Facebook group: “Yes! $1,500 withdrawal from the ATM machine. I called customer service and was advised to go into the branch. So I did and had the card blocked. I made a ‘Statement of Claim’ and was issued a new card at the same time. I’m just now waiting on the funds…”

Khrisna Russell added: “Several weeks ago funds were removed several times from my mother’s account by someone in Canada.” And Sheila Moree affirmed: “I had two unauthorised withdrawals on Saturday. Reported to RBC and advised investigation can take up to 45 days.”

RBC, in a statement responding to Tribune Business queries, said it has “identified a skimming incident that has potentially exposed a number of our RBC Visa magnetic strip debit cardholders in The Bahamas.

“We are in the process of contacting clients who were potentially affected. We are asking clients who may have been impacted to visit their nearest RBC branch at their earliest convenience to collect their new Chip & PIN (personal identification) Visa debit card, which provides additional protection through Chip and PIN technology.”

‘Skimming’ is a technique used by fraudsters where they typically insert a device into an automated teller (ATM) and point of sale (POS) machine without the knowledge of unsuspecting users. These devices then read and steal their card data, including PIN numbers, with the information obtained subsequently copied on to cloned cards and used to drain bank accounts of funds via multiple transactions in a short space of time.

“We remain committed to working with clients who may have been impacted by fraudulent activity to help them through what we know can be a difficult and stressful event,” RBC added. “Security is critical to our business and will always be a top priority. We invest in and employ industry best practices to protect our systems so our clients can have confidence in their financial transactions.

“RBC is working with the authorities as they investigate this attack on our valued clients and the related fraud, and will continue to invest and deploy the latest security protocols and technology to combat them. RBC takes this matter seriously as the protection of our client’s data and privacy is our priority.

“We will continue to monitor the situation closely. We also recommend that our clients remain vigilant and take appropriate measures to safeguard their personal and financial information.”