Republic Bank issues fraud alert

– as unauthorised banking transactions remain a challenge for commercial banks

Republic Bank (Guyana) Limited has issued a fresh fraud alert, warning customers about a fraudulent online post and questionnaire falsely claiming to be a “Republic Bank Christmas Gift” promotion offering G$600,000, as public concern continues to mount over unauthorised banking transactions reported over several years.
In its advisory, the bank made it clear that the post is a scam and did not originate from Republic Bank, urging customers to avoid clicking on links, filling out online forms, or providing personal or banking information to unverified websites or social media pages. The bank reiterated that it will never request sensitive banking details or passwords through unsolicited links, emails, or online questionnaires.
While the latest warning relates to a seasonal scam, complaints about missing funds and unauthorised card activity involving Republic Bank customers are not new.
Around 2021, multiple customers publicly claimed that monies were disappearing from their bank accounts without their authorisation. Several affected customers said they were later informed that the transactions were linked to online shopping activity. However, some insisted they had not made any such purchases and further claimed that they were never fully reimbursed for the missing funds.
Concerns surrounding internal and external fraud also surfaced earlier, in 2017, when a Republic Bank staff member was charged in connection with the alleged misappropriation of customer funds. The matter reportedly involved the transfer of monies from customer accounts to accounts at another commercial bank.
More recently, in 2023, the Bank of Guyana confirmed that it was monitoring an increase in fraudulent activities affecting a significant number of Visa cardholders, including customers of Republic Bank Limited. At that time, several customers complained that their Visa cards were being used for unauthorised international transactions and online merchandise purchases.
Commercial banks subsequently issued public notices stating that the monetary system had flagged unusual Visa One Card activity at certain global online merchants. Those notices were followed by a wave of complaints on social media, where affected customers reported similar fraudulent transactions and called for stronger consumer protections and faster reimbursement processes.
The recurring incidents and alerts have once again highlighted the risks associated with electronic banking and online transactions, particularly during peak shopping periods such as the Christmas season. Regulators and financial institutions have continued to urge customers to closely monitor their accounts, report suspicious activity immediately, and safeguard their personal banking information.
Republic Bank, in its most recent advisory, stressed that vigilance remains the strongest defence against fraud, as scammers increasingly exploit digital platforms and public trust in well-known institutions.