Foreign exchange scammers plaguing businesses
The police are warning business operators to be wary of foreign exchange scammers operating in several business districts across the country.
According to police reports, scammers are entering various business establishments with foreign currency to be exchanged.
It is reported that they hand over the foreign currency without agreeing to an exchange rate and after receiving the Jamaican currency for which the foreign currency is exchanged, they propose a higher rate, after declining to accept the issued rate.
The scammers then return the Jamaican currency and demand the foreign currency be returned to them, at which point, they hand over less cash than that which was originally handed over.
The police say the scammers also tender legitimate foreign currency for exchange and ask the business clerks to check if the money is counterfeit.
After it has been verified as real, the scammers then request the return of the money after disagreeing to the rate.
They then make a call to a third party, who supposedly agrees to the proposed rate. At this point, the scammers insert counterfeit notes with the original notes that were already checked by the clerks.
As a result of those scams, business operators and employees are urged to make all the necessary checks when collecting or handing over cash when conducting business transactions and to report any suspicious activities or persons to the police.
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