BOB clarifies that only around 300 accounts hit with 1070 fraudulent transactions

The Bank of Bhutan (BoB) informed that some fraudulent or unauthorized transaction has been made on VISA International Debit Cards after suspicious transactions were reported by its clients at its contact center at Phuentsholing in the morning of 22nd march, 2019.

A total of 1070 fraudulent transaction on VISA International Debit cards has been made through 300 accounts in Bhutan.

The bank clarified that there was a misperception with people mistaking the number of transactions with the number of accounts.

BoB explained that a single account could have such multiple transactions. 

BoB said that all the transactions were done at around 2 AM. All transactions happened on Point of Sale (POS) and Automated Teller Machines (ATM) in Brazil indicating a fraudulent pattern of activity. Most transactions were done through Point of Sale machines.

BoB has blocked all the transactions on VISA International debit Card to investigate the case and all transactions shall be blocked until the investigation is over.

Bob has reversed and credited all fraudulent debits made using VISA International Debit Cards on the same day the transactions happened.

BoB’s media Focal Person, Passang Norbu said, “The exact cause of the transaction is not known and the bank is investigating the case. BoB’s NOC (Network Operating Center) team is investigating the case and experts from outside will be called for further investigation”.

He said, “The exact probable loss to the bank is not known at this moment and the exact amount of loss incurred will be known only once the charge back is accepted and agreed“.

“BoB has submitted a charge back to VISA and we are hoping to hear from them soon”, he added.

“BoB will update the people once the investigation is over”, he said.


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