The police are reportedly investigating an alarming number of reports of financial fraud that have affected residents across several communities in recent months.

Sources say that multiple victims have come forward to report unauthorized transactions on their bank accounts, with losses amounting to nearly EC $90,000.

According to reports, one Cedar Valley resident contacted the Criminal Investigations Department after discovering unauthorized purchases made with his bank card. The incident is believed to have occurred over a two-week period in early August.

In a separate case, sources indicate that a Willoughby Bay resident reported the unauthorized transfer of funds from his account to an unknown account. This incident is said to have taken place sometime between April and May of this year.

Sources say that another victim from the Kentish Road area discovered that approximately $30,000 had been withdrawn from their online banking account without authorization. This theft allegedly occurred over a two-day period in early August.

Additionally, investigators are looking into a case involving fraudulent cheques totalling close to $60,000 that were reportedly withdrawn from a business account. Sources say this incident also took place during the first week of August.

Authorities are reminding residents to monitor their bank accounts regularly and to report any suspicious activity immediately to the Criminal Investigations Department.

The Office of National Drug and Money Laundering Control Policy (ONDCP) recently advised the public to increase their awareness due to incidents involving criminals who gain access to bank accounts through fraudulent online banking after obtaining personal information from victims.

The ONDCP said criminals are using two main tactics to steal information — through fake text messages called “smishing attacks” and phishing attacks through emails or phone calls.