Republic Bank (Guyana) Limited Friday morning said that new measures to guard against fraud involving its international VISA OneCard have resulted in some online transactions being blocked.
The Bank noted that “some fraudulent transactions were processed” and affected customers are being reimbursed where it has been “proven to have been fraudulently withdrawn.”
The company described the fraud involving the card as “a Brute-Force attack which is a trial-and-error method used by fraudsters to obtain within seconds, payment card information such as an account number, card expiration date etc.”
“Once that information is obtained, the fraudsters attempt numerous transactions at online merchants globally.
“While many of these attempts failed, some were also authorised resulting in those customers’ accounts being debited,” the Bank stated.
The Bank said this unusual activity was detected by the Bank’s monitoring systems, and in order to reduce the opportunity for fraudsters to continue the attack, the Bank in collaboration with VISA implemented additional authorising measures.
“These temporary measures have resulted in some legitimate online transactions being blocked,” the Bank stated.
Customers who experience difficulty in attempting online transactions using their VISA OneCard are being asked to contact Customer Support using the following numbers:
1-800-271-4725 or 1-868-625-1200
The Bank said efforts are being made to obtain a toll-free number in the shortest possible time frame.
“To this end, we encourage customers who suspect fraudulent transactions to their accounts to visit their nearest branch to confirm and validate their transactions.
“Customers are also encouraged to remain vigilant in monitoring their account activity through their statements of account, or the Bank’s Telephone Banking and online banking platforms,” the Bank stated.