Article
Have you ever mailed a check that was lost?
In 2023, over four thousand arrests we made related to US postal service crimes. Between 2019 and 2023, mail crimes increased by 87%. What are typical types of mail fraud, and what can you do to avoid becoming a victim?
Types of mail fraud:
- Intercept your mail at your personal mailbox.
- Compromise the outdoor maildrop at the post office taking the mail.
- Whitewash and write a fraudulent check.
- Take the check format and attempt to create your checks to cash or pay others.
- Take your checking account number and attempt digital payments or transfers.
- Steal your identity and then put on the dark web.
Consequences:
- Your money is lost with no ability to recover.
- Your time and stress in dealing with bank to recover funds.
- You must change your account information and update vendors.
- Your information can be on the dark web for others to use against you.
What can you do to avoid these situations?
Moving away from a check writing has benefits. Most banks offer bill pay options that will enable you to manage payments through their system via digital or physical check directly to the vendor. This reduces the front-end mail issues: bad actors preying on your mailbox or compromising the local post office mailboxes.
Moving all your recurring payments to credit/debit card or digital payment offers enhanced protection to you with the ability to monitor real-time activity and report fraud sooner. The benefits of paying with a credit card provide you protection for your cash assets and put the burden on the bank to manage the dispute or charge with the vendor. You are protected with unusual transactions that fall outside your normal spend activities or your location. (Additionally, you earn the benefit of points or cash back!)
In the digital payment and banking environment, it is critical to stay on top of your cash assets. Be aware of your activity and diligent with checking your transactions for small amounts or vendors you do not recognize.
What if you are not comfortable with digital payments?
If you do not prefer online banking and bill pay via card, follow these steps to decrease the chances of mail fraud:
- Utilize security checks that are difficult to replicate.
- Use pens with ink that cannot wash to avoid forgery.
- Do not use your personal mailbox for sending checks.
- Hand your mail directly to post office representative or go into the office for maildrop.
- Do not use outside or standalone mailboxes.
It is your responsibility to protect yourself and become hyper-focused with initiatives—starting with your finances. Take small steps to secure your physical and digital footprint!
