Bank card fraud dips thanks to Fraud Squad arrests

A concerted effort on breaking up local and international criminal networks has led to the progressive decline of debit and credit card fraud over the past three years, police said.

The statistics were presented by acting Cpl Terrence Nowbutt from the Fraud Squad during the weekly police media briefing at the Police Administration Building, Sackville Street, Port of Spain, on Thursday afternoon.

Nowbutt said the trend reflected the success of anti-fraud operations rolled out by the Fraud Squad.

The figures which were included in a Powerpoint presentation by Nowbutt, reported that, in 2020, there were 1,599 reports of fraud, compared to 2021 where the number significantly dipped to 264 reports of fraud and 2022 where the number fell further to 158 reports.

Nowbutt said the Fraud Squad initiated a series of investigations which led to several arrests and the corresponding dip in reported cases of fraud.

"Through intelligence and through effective stakeholder partnerships, we were able to make key arrests and dismantle these operations.

"We found they not only included our local citizens but there were a lot of foreigners coming to our jurisdiction with the intention of committing these crimes.

"So that accounted for this decline.

"It includes people from North America, South America and Central America."

In December 2019, Francisco Javier Gil Rivera, 27, a Mexican and Simon Eduardo Farias Romero, 33, a Venezuelan were sentenced to two years' hard labour after they were caught tampering with an ATM at Trincity Mall that year.

Nowbutt urged the public to be vigilant when visiting ATMs or point-of-sale devices at retailers to avoid being skimmed by fraudsters.

He noted that customers should be on the lookout for people lingering around ATMs or loosely attached devices on the card slot and keypad.

"We want you to examine the machines and ensure there are no loose fixtures, but these devices can be easily removed with some effort."

He added that while the introduction of Europay, Mastercard and Visa (EMV) microchip technology has better secured customer's information, fraudsters were developing the means to overcome those defences.

Nowbutt noted that while fraudsters could not properly copy the microchip information, the magnetic strip could be replicated and warned retailers to be mindful of such tricks.

"So while the chip would not be able to work, the information stored on the stripe would be available.

"So the fraudster would now go to any retailer which allows magnetic strip card use, and try to use this card.

"So it's crucial for retailers and merchants to be on the lookout for this.

"If a customer presents a chip-enabled card and claims the chip is damaged and asks to use the stripe instead, do not allow it."