NASSAU, Bahamas – December 5, 2017 – Tougher regulatory framework is coming for The Bahamas as financial institutions report that more and more people in country are becoming victims of debit card theft and fraud.
Consumer protection officials say the trend is worrying. In August, the Central Bank of The Bahamas said there were 90 people scammed by skimming devices at Nassau ATMs. In September, la bogus cash grant program was launched in the name of Prime Minister Dr Hubert Minnis.
It aimed to lure Bahamians to a website to provide information in the hopes of getting a cash grant; the phony program was shut down but Philip Beneby, president of the Consumer Protection Commission said while there is not a marked increase, the Commission is warning Bahamians to be careful as they shop and spend this holiday season.
