Central Bank Governor Larry Howai has raised concerns over a significant surge in fraud incidents, which have collectively amounted to $3.3 million during the fiscal year from October 2024 to September 2025. Addressing a high-level meeting on October 28, Howai highlighted that women aged 30 to 49 residing in eastern and southern Trinidad are particularly vulnerable, being twice as likely to fall victim to such scams. The meeting brought together key stakeholders, including bankers, the TTPS Fraud Squad, the Financial Intelligence Bureau, and the Financial Intelligence Unit, to strategize on combating this alarming trend. Howai emphasized that while the current figures may seem modest, the growing sophistication of fraud schemes demands immediate action. He stressed the need for a unified approach to create restitution mechanisms for victims and implement preventive measures. Additionally, Howai pointed out that elderly individuals are disproportionately affected by online fraud, attributing this to the increasingly complex nature of scams. He also criticized the inconsistent handling of fraud cases by banks, noting that victims often receive varying levels of support depending on the branch or institution involved. In June alone, three women reported losses exceeding $3,000 due to fraudulent activities, including scams on platforms like Facebook Marketplace and false promises of visa assistance. Howai urged banks and the Central Bank to strengthen their frameworks to ensure consistency and enhance customer protection.