Online fraud in the Caribbean has exploded. What was once the occasional “send me a top-up” message has evolved into multimillion-dollar criminal operations using cloned websites, deepfakes, and cryptocurrency.
Between 2020 and 2025, digital fraud across the region surged as people and businesses moved online faster than financial institutions could secure their systems. The Bank of Jamaica reported an 890 per cent rise in Internet banking fraud since 2020, with losses exceeding J$800 million (US$5 million) by the end of 2023. The Trinidad and Tobago Police Service recorded TT$3 million (US$440,000) in online fraud losses in the last fiscal year, and the Financial Intelligence Unit of Guyana identified G$100 billion (US$478 million) in suspected fraud proceeds.
Experts warn these figures understate the problem. Globally, only about 15 per cent of victims ever report fraud.
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