Dear Editor,
The increasing frequency of banking fraud, social media scams, and pyramid schemes targeting Guyanese citizens is a matter of urgent concern. While digital banking brings convenience to our economy, it has also opened the door to sophisticated criminals who prey on trust and lack of technical awareness.
As a Guyanese professional with over 10 years of experience in the cybersecurity and investigations space, I feel a responsibility to offer practical guidance to the public. I have analyzed these patterns for years, and while the technology changes, the core manipulation remains the same. Whether it is a fake text from a local bank or a promise of easy money on WhatsApp, the goal is to exploit fear or greed.
We cannot rely solely on the police or financial institutions to protect us; we must harden our own defences. I urge all consumers to adopt the following security protocols immediately:
Adopt a “Zero Trust” Mindset: In the cybersecurity world, we operate on “Zero Trust.” This means you verify every request, no matter who it appears to come from. If you receive a call or text claiming to be from Republic Bank, GBTI, or Demerara Bank stating your account is “locked” or “compromised,” do not panic. Hang up. Do not click the link. Call the bank directly using the number printed on the back of your debit card—never the number that called you.
Recognize Social Engineering: Fraudsters are experts at psychological manipulation. We are seeing a rise in “romance scams” and “package fees” where online friends request money for customs clearance. Please understand: if you have never met the person, the request is almost certainly a trap. Similarly, if an investment group on social media promises guaranteed high returns in a short time, it is a pyramid scheme. Do not let the promise of quick cash rob you of your savings.
Enable Multi-Factor Authentication (MFA): Passwords alone are no longer sufficient. You must enable Multi-Factor Authentication (MFA) on your email, social media, and online banking accounts. This acts as a second lock, requiring a code sent to your phone or an app to access your account. It is the single most effective tool to stop a hacker from stealing your digital identity.
Our transition to a digital society is inevitable, but becoming a victim of fraud is not. By treating our digital information with the same caution we treat the cash in our pockets, we can shut these criminals down.