NASSAU, BAHAMAS — The Central Bank is warning merchants over a point of sale (POS) systems scam, noting that it has been made aware that a person or persons purporting to represent the regulator have approached local merchants seeking to validate their POS systems.
“It has come to the attention of the Central Bank of The Bahamas (CBOB) that a person or persons have approached local merchants purporting to be a representative of the CBOB and requesting to “…validate [their] POS (point of sale) systems to ensure that they are Near Field Communication (NFC) compliant”, read a notice from the regulator.
Near Field Communication is a form of radio-frequency communication (RFID) that allows for communication between two electronic devices – close proximity wireless data transfer.
The Central Bank continued: “We would wish to advise all merchants and the general public that the Central Bank has no association with the issuance, maintenance, administration or management of POS systems, and would not authorize any individual or entity to conduct any business on its behalf.”
The regulator has urged merchants to “exercise all due diligence” and report any suspicious activities to the Royal Bahamas Police Force and their respective banking institutions.
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