Operation Safe Card targets cybercriminals

STUNG by an apparent increase in theft by scammers who illegally access banking information of customers and bleed their accounts, the Jamaica Bankers' Association (JBA) has joined with the police to launch a major counter-fraud initiative.

The police yesterday rolled out their Operation Safe Card, a task force which will investigate and bring before the courts persons who prey on unsuspecting persons.

Commissioner of Police Owen Ellington said the police are happy to be partnering with the financial institutions and have pledged to fight cybercrime.

Ellington said the men and women under his command were committed to taking every step necessary to protect commerce and to ensure that confidence is retained in the banking sector.

Michael Gordon, chairman of the JBA's anti-crime committee, said it was important for financial institutions to collaborate with the police to combat organised crime.

"It is a significant issue for us. Cybercrime has cost almost all financial institutions millions of dollars," Gordon said.

Senior Superintendent of Police Fitz Bailey, head of the Fraud Squad, told The Gleaner that financial institutions have experienced a significant jump in identify fraud.

As an example, Bailey pointed to one major bank which last year reported that for the first nine months, it lost more than $200 million to debit- and credit-card fraud.

20 people arrested

Bailey said that since the initiative started in October, 20 people have been arrested, 55 charges laid and more than 300 fraudulent cards recovered. He said the rise of scamming is also supporting other aspects of organised crime.

"We have seen over the years a significant increase in gangs and other elements that have to do with organised crime. Of greater significance is the use of these illegal gains. The funds that are derived from card fraud are used for other criminal enterprises, weapon and ammunition financing, narcotics trafficking, trafficking in persons and motor vehicle theft," Bailey said.

The senior superintendent said the enactment of the Cybercrime Act, passed into law last year, has been a critical tool for the police in their work.