The Turks & Caicos Financial Services Commission said it is overseeing Scotiabank (Turks & Caicos) Limited’s response to delayed posting of certain Visa debit point-of-sale transactions and is continuing to review the issue. The bank has attributed the delays to a processing problem linked to a system change by its card service provider, and has told the regulator there was no breach or compromise of its systems or client data. Affected transactions were due to begin posting in a controlled and validated manner from 27 April, and impacted clients have received personalised communications. The Commission said it is monitoring the bank’s remediation actions and timeline, assessing the impact, seeking assurance that there has been no effect on client funds or data security, and is prepared to require further corrective measures or make recommendations if any gaps are identified. The FSC said it will remain in close contact with the bank and take any supervisory action necessary to protect depositors’ funds and uphold regulatory standards. It also said further updates will be provided if material developments occur, and invited customers whose issues have not been resolved to use its complaints portal.
Turks & Caicos Financial Services Commission 2026-04-28
Turks & Caicos Financial Services Commission confirms ongoing oversight of Scotiabank debit transaction posting delays
The Turks & Caicos Financial Services Commission is overseeing Scotiabank (Turks & Caicos) Limited’s response to delayed posting of certain Visa debit point-of-sale transactions arising from a processing issue linked to a card service provider system change. The Commission is monitoring remediation, assessing impacts, seeking assurance on client funds and data security, and may require further corrective measures or take supervisory action to protect depositors and uphold regulatory standards.