Jamaica Gleaner News - Fraud hits historic high at $3b - Business - Friday | July 31, 2009
Fraud hits historic high at $3b
Published: Friday | July 31, 2009
Avia Collinder, Business Reporter

Detective Carl Berry of the Organized Crime Unit of the Jamaica Constabulary Force shows merchants and employees a fake credit card that was seized by the police, at a National Commercial Bank 'Merchant Fraud Seminar' in Kingston. To curtail its losses from credit card scams, NCB has partnered with the police on a series of seminars.

Corporate earnings lost to fraud hit $665 million for the first half of this year, prompting the police fraud squad to warn company managers and individuals to be more vigilant in the supervision of employees and pre-paying for goods and services.

But that outcome annu-alised is a more than a two-fold improvement, coming off a spectacular year for crooks in 2008 when monies lost to fraudulent activity passed the J$3 billion mark for the first time in Jamaica's history.

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Posted by John B. Frank Friday, July 31, 2009

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