The Ministry of Social Development and Family Services is advising all financial institutions, groceries, supermarkets and district Revenue Offices to exercise increased caution when processing cheques for payment.
In a release, the Ministry said recent incidences of fraudulent cheque presentation have been reported, specifically targeting grant cheques for Senior Citizens Pension, Disability and Public Assistance Grants.
The Ministry has observed an alarming rise in the number of counterfeit cheques being presented for payment within the last few months. In order to combat this growing issue the Ministry would like to emphasize that any cheque determined to be counterfeit will not be honoured by the Central Bank.
Given the severity of this matter, the Ministry strongly urges all vendors to pay closer attention and exercise thorough scrutiny when accepting cheques for payment, in order to safeguard your business from financial losses. Instances of fraudulent cheque presentation should be immediately reported to the TTPS.
While addressing the issue at hand, the Ministry also encouraged clients to sign up for the Direct Deposit service to ensure prompt and secure receipt of their grant payments, eliminating the risk of falling victim to fraudulent activity.
The Ministry said it remains committed to combating fraud and protecting the well-being of its clients. By fostering increased awareness and exercising caution when accepting cheques, we can collectively mitigate the risks associated with counterfeit cheques.
For further information, please contact the Ministry of Social Development and Family Services’ toll-free number at 800-1MSD (1673).