Bank glitches no cause for fraud worry

The banking system in Barbados is robust and safe.

This assurance came from president of the Barbados Bankers Association, Glyne Harrison, as he responded to queries regarding occasional disruption in service by customers.

Last weekend and earlier this week, some customers from at least two commercial banks were unable to access funds from automated teller machines due to system problems at those institutions. This occurred just weeks after one of those institutions experienced a glitch which saw the bank putting a temporary hold on various amounts on customers’ accounts.

Some people expressed fear that the recent occurrence might be due to attempted fraud or skimming. However, Harrison told Barbados TODAY the issue was localized and therefore was specific to the banks that the customers were having the problem with.

“This would be normal internal system-related events, but nothing that the public should worry about. It is not any type of fraud or skimming or anything like that,” said Harrison.

“All banks have robust systems with the necessary monitoring in place to provide alerts and feedbacks. So if there are any errors being experienced by customers, more than likely these are being detected and are being dealt with by the banks. So customers should still remain confident that the banking system is robust,” he added.

At the same time Harrison warned that if anyone was noticing “anything out of the norm” they should contact their banking institutions immediately and report the issues so they could be dealt with.

Efforts to get any explanation from the affected financial institutions were unsuccessful.

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