This is a 47 per cent increase 2015 which the bank recorded K17 million.
BSP Chief Executive Officer (CEO), Robin Fleming, says fraud has been one of the issues that BSP and most Banks in PNG have had to deal with.
And despite many controls to reduce the prospect of fraud occurring across such a large diversified geography, and the number of customer they have, Fleming says it is an unfortunate expense that has to be dealt with particularly in PNG.
He highlighted internal aspects which the bank tries to reinforce to limit and avert fraud behaviour and activity.
