I would like to warn fellow wazuan business people there is an increase in cheque fraud out there. I was a kumbafu last week. got a lpo from a well known ngo with a cheque for 550k. we sent the cheque to KCB for verification and they said it was ok. we then proceeded to supply and banked the cheque only for it to come back unpaid. apparently the cheque was so well forged even the bank could not tell and it went through the micr cheque recognition! in fact the bank actually paid us and then reversed the transaction a day later after they realised. anyhow reported the matter to the CID but got the reality that we would not get money back or find the culprits. so I have lost 1/4 of my business capital to some con men out there. I hope they choke on it! lesson learnt: do not trust the banks to verify cheques as they like to pretend their cheques cannot be forged or they cant be defrauded to build false customer confidence! and most importantly do not accept cheques as payment until the funds have cleared into your account and stay there for atleast 3 days!! the same applies to bankers cheques which cannot be trusted as well.

@pops,
Pole.Are you saying you were given payment cheque before delivering the goods and that you were conned by a "well known" ngo?

Pole sana Pops. Even with the RTGS, be careful. Know of a guy who sold his car and was paid by RTGS. But it was done after 1pm so its effected the following day. He was shown the RTGS slip, was happy and gave out the car and logbook to the crook. Then the crook went to the bank same day and reversed the RTGS and disappeared into thin air.

No they did not advertise. A guy came to my shop asking for a quotation which I gave. He then called me a few days later to say my prices were good and had been approved by procurement, what would my terms be? I obviously said cash. He then requested if I would accept a LPO with current cheque, and I was welcome to do reference check on them. He was using name of a well known NGO so I was confident that they were ok. He brought LPO and cheque and we did a check with the KCB to confirm authenticity of cheque which KCB branch manager verbally confirmed. I then released goods ad banked cheque only for it to.....

Pops forget the payment mode. You got conned because you failed to perform due diligence. Always confirm that documents are from who they claim to be from by visiting the finance/procurement offices.