Bank saves customer from potential scam

| 09/04/2024 | 8 Comments

(CNS): The RCIPS Financial Crime Investigation Unit (FCIU) is warning residents about the latest financial scam targeting people in the Cayman Islands after a local bank intervened to prevent one of their customers from being conned. Police said the scam involves the crooks contacting the victims by phone posing as a credit card security or a bank employee and asking for the victim’s help in a fraud investigation.

As part of this fake “investigation”, the perpetrators ask the victim to authorise a transaction that is ultimately transferred to the scammers’ accounts. They also tell the victim that the nature of the investigation means that they should not let anyone else know what they are doing to help them entrap the “thieves”.

However, last Friday, 5 April, the RCIPS was alerted to the scam by staff at Butterfield Bank who had noticed that an older customer was attempting to conduct an uncharacteristic transaction. The police made contact with the victim and action was taken in time to prevent the transaction from being completed. The customer did not lose any money.

The FCIU is warning residents to be wary of calls from someone claiming to be from credit card security asking them to conduct a transaction. Financial investigators will not ask you to transfer funds in order to entrap criminals, the police said.

The RCIPS also thanked Butterfield Bank for taking immediate action in response to the suspicious transaction.

Anyone who suspects they have been a victim of this scam or who receives any such suspicious calls is urged to email the RCIPS Financial Crime Investigation Unit at
or call at 949-4222 or dial 911.

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Category: Crime, Police

Comments (8)

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  1. Avoid Scams says:

    When they called me and said “Calling from Bank” (no introduction or anything not to mentioned a strange accent)…I told them “to shove there scam up their backside” and hung up. Sadly you do need to be a bit skeptical these days 😉 Well done to Butterfield Staff 👊🏼

  2. Anonymous says:

    Yet there is nothing to protect us from the bank fees scam. I am being charged $50 for a document (no idea what it is) and told there is a $50 ‘fee’. I have asked them what the fee is for but never been told. We are charged 30c for every account transfer where there is no human involvement $2 for domestic transfers and a host of other debit card fees. They are up there with the scammers too.

    • Frustrated in KYD says:

      Email them. It takes time but they always respond.
      I deal w all major financial institutions and as poor as the new BOB platform is it is still better than the others I use.
      I agree the fees seem outrageous but it is a business and is going to charge for their services

    • Anonymous says:

      -$15 GOV stamp duty

      -$15 compliance fee

      -$10 service charge *facepalm*

      many more.

  3. Elvis says:

    Banks never do this folks. Just hang up. Simple

  4. Anonymous says:

    Scammers, especially those who target the elderly, are lower than scum. Makes me muse sometimes that stoning was still a thing.

  5. Anonymous says:

    Always call your bank directly yourself. Never believe someone that calls you asking for information/transaction/card verification.

  6. Anonymous says:

    Thank goodness for Butterfield employees being so vigilant.
    Scamming older people often affects them for life!


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