Police have launched an investigation into an apparent electronic banking fraud after a Paradise View resident reported losing a total of EC$100,000 from two bank accounts.

The man reported to the Criminal Investigations Department that EC$50,000 was fraudulently transferred from his account at Antigua Commercial Bank and another EC$50,000 from his account at Eastern Caribbean Amalgamated Bank.

According to police, both unauthorized transactions occurred on June 2.

Investigators have interviewed the complainant and gathered information as part of ongoing inquiries. Senior officers have been briefed on the matter as detectives continue to trace the transactions and determine how the funds were removed.

The incident is among the largest reported electronic transfer fraud cases recorded by police in recent months.