While credit- and debit-card fraud remains the most prevalent financial crimes committed locally, the Bank of Jamaica (BOJ) is reporting that females and millennials are disproportionately targeted by the fraudsters.
Major Keron Burrell, head of policy and methodology at the BOJ, said young people between the ages of 18 and 34 were more frequent victims of credit- and debit-card fraud.
In an online presentation Thursday on fraud trends during the coronavirus pandemic, Burrell said that women were perceived to be easier targets by the perpetrators of card heists.
In 2018, card fraud accounted for 90 per cent of total losses to deposit-taking institutions. While the number fell to 80 per cent in 2019, Burrell said that the central bank saw an uptick in card-not-present fraud in which the criminals started to target online activities.