Check fraud is back in a big way, fueled by a rise in organized crime forcing small businesses and individuals to take additional safety measures or avoid sending checks through the mail altogether.
Banks issued roughly 680,000 reports of check fraud to the Financial Crimes Enforcement Network, also known as FinCEN, last year. That’s up from 350,000 reports in 2021. Meanwhile the U.S. Postal Inspection Service reported roughly 300,000 complaints of mail theft in 2021, more than double the prior year’s total.Early in the pandemic, government relief checks became an attractive target for criminals.
The checks were stolen in March and Fischgrund became aware of the problem in April, when several of his clients who were never late missed payments. The Postal Service investigated and Fischgrund has recovered about 70% of the revenue, but some of the cases haven’t yet been resolved. In one case in Southern California last year, nearly sixty people were arrested on charges of committing more than $5 million in check fraud against 750 people.Criminals are getting the checks or identification information by fishing mail out of U.S. postal boxes, looking for envelopes that appear to be either bill payments or checks being mailed.
That’s why check fraud experts are saying Americans should avoid sending checks in the mail or at least take additional safety steps to avoid becoming a victim.
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Cases of check fraud escalate dramatically, with Americans warned not to mail checks if possibleCheck fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether.
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Cases of check fraud escalate dramatically, with Americans warned not to mail checks if possibleCheck fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether
Read more »
Cases of check fraud escalate dramatically, with Americans warned not to mail checks if possibleCheck fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether.
Read more »
Check fraud cases rising dramatically, with Americans warned not to mail checks if possibleCheck fraud is back -- and in a big way. Today's criminals have sophisticated operations that have ramped up since the COVID government relief checks became an attractive target.
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Cases of check fraud escalate dramatically, with Americans warned not to mail checks if possibleCheck fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether.
Read more »
Cases of check fraud escalate dramatically, with Americans warned not to mail checks if possibleCheck fraud is back in a big way, fueled by a rise in organized crime that is forcing small businesses and individuals to take additional safety measures or to avoid sending checks through the mail altogether.
Read more »