Governor Byles says Jamaica’s financial frauds minuscule compared to other countries
Despite the high number of financial fraud cases reported recently, Bank of Jamaica Governor Richard Byles is assuring that Jamaica is not above the norm in comparison to other countries, where financial crimes are concerned.
This year, several cases of financial fraud have come to light – the most prominent being the multi-million dollar case at stocks and securities limited, where a number of clients, including sprint legend Usain Bolt, were defrauded.
Speaking during ambassador Audrey Mark‘s lets connect meeting, on Thursday evening, the governor sought to dispel the notion, that only Jamaica has concerns with financial fraud.
According to governor Byles, the issue is global.
He argued that fraud has been a permanent feature in the financial sector and the battle between institutions and fraudsters continue.