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Rising fraud prompts bank’s new security measures

Fidelity Bahamas implements new online security feature

Published: Oct 22, 2013

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Seeking to crack down on online fraud, Fidelity Bank (Bahamas) Limited has introduced more robust online security features.

In a release issued yesterday, the bank suggested that incidences of bank fraud are on the rise.

With the introduction of the new security measure, every online transaction that customers initiate will now require a special code.

This code will be texted to the customer’s private cell phone each time an online transaction is initiated. This way, every transaction will have a unique, randomly generated transaction code that must be entered before Fidelity will process the transaction and this code will only be available on the customer’s cell phone.

Anwer Sunderji, chief executive said, “We are seeing increasing incidents of ‘phishing’ by unscrupulous people who are using information they illegally obtain to cheat innocent customers. We are confident that the new measures, which include additional security features we are announcing today, will substantially reduce the incidence of online fraud.

“The new features are effective immediately and On-Line initiated transactions will only be processed using the texted code. We urge our customers to sign up immediately to the new features when they log on to https://www.fidelityonline.bs and follow the simple step- by- step process that we have highlighted on the website. Our customer service people are on standby to assist you in case you have a problem. Our online features remain available free of charge to all our customers.”

Sunderji added that Fidelity is proud to be “pioneering cutting edge technology” and leading the way to a safer and more secure banking experience.

“We were the first bank to introduce seamless branch banking, debit cards, loyalty programs and free online banking. The new enhanced ‘fortress’ features continue the pace-making reputation we have already achieved.”


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