Republic Bank repays over $5M to customers after visa card fraud

-man files complaint to cops over missing money

Republic Bank (Guyana) Limited (RBL) has already reimbursed customers millions as a result of fraudulent activity on its Visa International Debit Cards and at least one customer says it will have to pay out millions more based on what has gone missing from his account.

On May 15th, the bank said that through its “robust monitoring systems,” it was able to quickly identify cases where customers’ cards were compromised and to effectively minimise the risk to other customers.

“The Bank is taking the necessary steps to regularise all affected accounts using a well-defined, standard process, focussed on reducing customer inconvenience. The Bank regrets the inconvenience to its customers and advises that impacted customers will be asked to confirm and validate their transactions to assist with this process,” the statement added…..

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