The Tribune

POLICE are warning members of the business community to be on alert due to a recent spate of fraudulent cheques being circulated.

The Financial Crime Investigations Branch said the latest scheme involves people calling a business requesting price or quotes for merchandise while informing them that they represent a credit union or an insurance company.

The fraudster will also indicate that the merchandise would be paid for by cheque drawn from the mentioned credit union or insurance company.

“Within a day or two, the (fraudster) comes to the business and presents a cheque matching the amount of the quote,” police said. “The business is usually informed after two to three business days that the cheque is fraudulent.

“Businesses that are being targeted range from building supply stores, furniture stores, and wholesale agencies. The value of the fraudulent cheques is usually in the $3,000 to $6,000 figure range,” police said.

In view of this, the business community is advised to take extra precautions when accepting cheques and to ensure that customer information is obtained when conducting transactions.

If your business has been targeted or a similar circumstance has occurred, please contact the Financial Crimes Investigations Branch at 356-601/3566025 or the nearest police station.