The National Insurance Department is reminding businesses that before they disburse cash for National Insurance Scheme (NIS) cheques, they should enforce strict procedures to verify the validity of cheques and the identity of the recipients of the funds.
The department issued this reminder yesterday and indicated that it had received reports of fraudulent activity involving pension cheques.
“Businesses are cautioned that banks, credit unions and post offices are the authorized institutions for the encashment of National Insurance cheques, therefore honouring such cheques would be at your own risk,” the department warned. (PR)
