National Commercial Bank, NCB, says there’s no guarantee that customers who were fleeced of some 18 million dollars in the last ten days by fraudsters, will be reimbursed by the bank.

The customers lost their monies in what the bank calls vishing and smishing schemes.

Manager of Special Investigation at NCB’s Fraud Prevention Unit, Dane Nicholson, says smishing is when fraudsters send text messages to customers purporting to be from the bank, asking them to click a link in order to regain access to their accounts or verify suspicious activities on account.

Vishing he says is when the fraudsters call customers purporting to be someone from the bank asking for their RSA token number.

Mr Nicholson says the fraudsters then gain access to customers accounts and add beneficiaries in order to transfer the customers’ funds.

He says customers who feel victimised by the schemes should reach out to the bank in order to have their accounts secured.

But he says any move to reimburse those affected will be discretionary.

He says the fraudsters also benefit from genuine NCB customers who have colluded with them in the schemes.

Dane Nicholson, Manager of Special Investigation at NCB’s Fraud Prevention Unit, speaking last evening on Nationwide @5.