EM Tv News
The National Development Bank has taken measures to protect itself against scam and con artists.
It has engaged the services data security firm Credit and Data Bureau to ensure that monies lent are given to credible customers.
The bank could not specify but it isT believed hundreds of thousands of kina are lost through scams.The National Development Bank has taken measures to protect itself against scam and con artists.
It has engaged the services data security firm Credit and Data Bureau to ensure that monies lent are given to credible customers.
Inside the NDB headquarters, Executive Manager of the Lending Division Trevor Cain presented an K11, 825 mock cheque to Credit & Data Bureau Managing Director, Bruce Mackinlay.
Receiving the cheque Mr Mackinlay said the new system will help the NDB identify scam and con artists, which have cost banks and financial institutions millions of kina.
They can also identify those that have multiple loans or have a bad history of credit and debt.
Since their establishment over five years ago, the Credit and Data Bureau has been able to recover over K44 million in debts and credits.
With a major stimulus package of K80 million provided by the government to boost small to medium enterprises, the NDB wants to ensure that this money is protected for genuine beginner entrepreneurs.
NDB will be able to use the new data service within the next few months.
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