"The bandits are operating in teams using motor cars or motor cycles and persons should be alert to their being followed by such persons. In some instances persons are followed having left the bank and in other instances the perpetrators plant themselves in the bank and alert their accomplices outside with the use of cell phones," a police press statement said.

Earlier this week, police in Georgetown were investigating two incidents that occurred where customers who had conducted business transactions with banking institutions were later attacked and robbed by armed men who tracked them with motor vehicles.

The police have advised the public to exercise caution when going about their business, having withdrawn from or proceeding to banks with large sums of money.

"Currently the police have both overt and covert operations around all banks. The most recent operation resulted in two men being caught outside the National Bank of Industry and Commerce (NBIC) bank last Friday, one of whom was armed with a firearm. These operations will continue," the police stated.