UPDATE | Workers in fraud racket at Corporate Area branch suspended, says Sagicor

Sagicor Bank says the two employees implicated in an alleged multimillion-dollar fraud at one of its Corporate Area branches have been suspended. 

Assistant Commissioner of Police Anthony McLaughlin, who heads the police's Counter-Terrorism and Organised Crime Division, confirmed Wednesday morning that the employees have been charged. 

But he said he would not release the names until they have been brought before a court. 

Sagicor said its management uncovered the alleged "fraudulent activities" through its internal security systems.

"The investigation was handed over to the Jamaica Constabulary Force on Friday, October 21, 2022 and the implicated employees, have been suspended to facilitate the progress of the investigation," the bank said in a statement to The Gleaner on Wednesday. It did not name the branch. 

It added: "We wish to assure our clients that we take the security and protection of their assets very seriously. We constantly review our operations rigorously in order to promptly detect anomalies and liaise with the authorities to ensure that those responsible, face the full legal ramifications."

Sagicor said it will not comment further on the matter "to ensure that the legal and ethical processes of the case are upheld". 

The statement was issued under the name, Karl Williams, the executive vice president, shared services in Sagicor Group Jamaica

It's the latest case of fraud uncovered at a local financial institution in recent months.  

In July, Arsenio Johnson, a retail support officer at the National Commercial Bank was charged with larceny as a servant and breaches of the Proceeds of Crime Act and Cybercrimes Act over the alleged defrauding of at least $5.8 million from the bank.  

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