NASSAU, BAHAMAS — Island Pay executives yesterday urged users on the platform to exercise “diligence” when conducting their transactions, this as several account holders have reported fraudulent activities on their digital wallets.
As we evolve in the digital space, we want to share as much info with consumers on how to use their digital assets in a safe manner.
– Island Pay Managing Director Jeff Beckles
Jeffrey Beckles, the digital payment solutions provider’s managing director, in an interview with Eyewitness News, stressed that the company’s platform is secure.
“We have a very vigorous security and compliance regime in place. We take these sort of things very seriously. The reality is those person that own those wallets must also exercise diligence,” said Beckles, noting that there have been ‘a few’ complaints of fraudulent activities.
He added: “We have had a few of our wallet holders contact us with regards to fraudulent activities on their digital wallets. We take these things very seriously.
“As we evolve in the digital space, we want to share as much info with consumers on how to use their digital assets in a safe manner.
“We also want to remind patrons that safety and security is a partnership. While we are doing everything in our power to ensure that our platform is safe — and it is safe, we want our wallet holders to utilize safe and globally-accepted practices.”
The company is encouraging people to not use free Wi-Fi, particularly in public spaces, when utilizing their digital wallets; to not scan QR codes offering gifts, as they are often used for phishing; and to not share their passwords.
“A user may call and say they saw $50 or $100 taken from their account and we would ask a series of questions — did you use free Wi-Fi, share your password or scan on something that had a free offer — and if they did, we’d say no, those are not wise things to do as you’re left exposed to fraudulent activities,” said Beckles.
According to Beckles, the company has just over 24,000 users on its platform.
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