Bank official pleased with outcome of ATM scam

A top official at one of the financial institutions that were hit by the island’s biggest Automated Teller Machine (ATM) breach in October last year has expressed satisfaction that the culprits have been dealt with.

Managing director and chief executive officer of Republic Bank (Barbados) Ltd Ian De Souza told a press conference today that he was “glad” to see reports that the Bulgarian nationals, who were charged with the offence, had been fined, and he warned that the bank had since ramped up its security.

De Souza was responding to questions from the media at the bank’s Independence Square location, as it launched a new product to help current and prospective Barbadian students to pay for their tertiary level education.

“The last most recent [fraudulent activity to affect the bank] was where you saw the Bulgarians, and I was very glad to see in the Press this week, you have two of them being escorted to jail . . . Of course in the business you always have people attempting to do this skimming thing. But we have not had anything as significant as that incident since,” he reported.

The two Bulgarian fraud convicts who had cleaned out the accounts of several customers across Barbados using ATMs and were caught attempting to leave the island last October with more than $340, 000, were fined $350, 000. They were scheduled to leave the island on Wednesday.

De Souza issued a warning to those who may be planning to carry out any similar fraudulent acts against the financial institution in the future.

“There are a lot of measures that we as banks put in place, including, and this should be a statement to the fraudsters, if they are trying to come to any of our ATMs they should smile because we have cameras on all of them. And we will catch you.

The technology that we use is very good, solid technology and invariably we are able to catch up with people who attempt to use our machines fraudulently,”                          warned De Souza.

 

8 Responses to Bank official pleased with outcome of ATM scam

  1. Bobby Brown
    Bobby Brown July 18, 2014 at 12:43 am

    All the banks should thank them men because they show all wunna that the so call security wunna THINK wunna got was bare nonsense. It was like a few years ago it take a igrunt monkey too show the light and power that the system that they think was suppose too stop a islandwide outage was not doing what it was suppose too. The high interest rates you charge for loans and credit cards spend it oÑ frequent security checks

    Reply
  2. Bobby Brown
    Bobby Brown July 18, 2014 at 12:43 am

    All the banks should thank them men because they show all wunna that the so call security wunna THINK wunna got was bare nonsense. It was like a few years ago it take a igrunt monkey too show the light and power that the system that they think was suppose too stop a islandwide outage was not doing what it was suppose too. The high interest rates you charge for loans and credit cards spend it oÑ frequent security checks

    Reply
  3. Olutoye Walrond July 18, 2014 at 2:27 am

    I still think these bandits got off too lightly. They stole 340 000 and were fined 350 000, which means their net fine was 50 000. An offence of this nature warrants a larger fine or at least seven years in prison.

    But what about restitution? Is there no provision for that in our laws?

    Reply
  4. Olutoye Walrond July 18, 2014 at 2:29 am

    ERROR: Their net fine was ten thousand.

    Reply
  5. Veroniva Boyce
    Veroniva Boyce July 18, 2014 at 3:05 am

    Scheduled to leave Barbados on Wednesday? Pure mock sport wanna making.

    Reply
  6. Veroniva Boyce
    Veroniva Boyce July 18, 2014 at 3:05 am

    Scheduled to leave Barbados on Wednesday? Pure mock sport wanna making.

    Reply
  7. Alex 3 July 18, 2014 at 12:28 pm

    I dismay that the slap in the wrist mentality we see in British Columbia and indeed across Canada has invaded the courts of Barbados my home away from home.
    These men committed an act of grand larceny and they walk with a fine that is essentially what they stole plus $10,000? Give me a break please.
    How about 5-7 yr in HMP Dodds as a signal to other who wish to come to Barbados and commit crimes that it will be a while before you can leave if you get caught and convicted.

    Reply
  8. Patrick Blackman July 18, 2014 at 8:27 pm

    Olutoye: ha ha , just figure why you could not understand about the tax you can’t count….. ERROR: Their net fine was ten thousand.

    Reply

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