Eastern Caribbean Central Bank urges ECCU residents to stay alert as financial crimes rise

The Eastern Caribbean Central Bank has issued a public awareness warning to citizens and residents across the Eastern Caribbean Currency Union (ECCU), urging greater vigilance as financial crimes continue to increase and outlining practical steps to reduce exposure to scams and fraud. The warning, delivered through an episode of ECCB Connects featuring the St Kitts-Nevis Bankers Association and the Royal Saint Christopher and Nevis Police Force’s White Collar Crimes Unit, highlighted prevalent scam types including email or text phishing, romance scams, job scams, investment scams and business email compromise. It pointed to customer and bank tools such as account activity alerts and banks’ ability to freeze accounts, and cautioned that mass text prompts to change passwords are being used across the currency union. It also stressed that stolen funds are unlikely to be recovered unless banks and law enforcement act quickly and collaboratively, and urged account holders to verify suspicious activity with their bank and report it immediately to law enforcement. The ECCB directed the public to its website and social media channels for further information on the ECCB Connects episode.