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Sunday, August 25, 2019

PrivatBank cracking down on fraud

In the past nine months, police have detained 32 people who were allegedly attempting to apply for credit cards in other people's names with forged documents at PrivatBank in the Ukraine.

Bank employees were able to identify the counterfeit documents and report the people to the police.

The bank's head of security, Stanislav Krizhanovsky, said the bank is noticing a decline in the number of attempted fraud case using forged documents each year. He attributed this to the high rate at which bank employees identify faulty documents and said potential fraudsters have realized that taking forged documents to the bank is a quick way to end up in jail.

Each quarter, the bank's employees must undergo specialized courses that teach them how to identify forged documents.

For those who have information on the first or last names or whereabouts of people who have used forged documents in the past, the bank guarantees a reward of up to $5,000.

Krizhanovsky said alert citizens are a key component in helping the bank deal with scams. He said the bank aims to seek the prosecution of fraudsters, regardless of the scale of the crime.

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Privat Bank - Kyiv Regional Office - Ukraine

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