Steer clear of sending checks through the mail!

Since 2020, there has been a noticeable rise in check fraud incidents, with the theft of stimulus checks becoming an increasingly common crime. The scale of this fraudulent activity has been alarming, with the number of reports nearly doubling from 350,000 in 2021 to an astounding 680,000 cases in 2022 across the US alone.

These scams are far from petty, single-person operations. Instead, they are intricate, sophisticated schemes run by organized groups targeting banks and individual account holders. The growing frequency and sophistication of these scams have necessitated more vigilant monitoring by banks.

In the face of these escalating fraudulent activities, the US Postal Service reiterates its warning: avoid mailing checks. Scammers are exploiting this traditional method of money transfer more than ever, leading to significant financial losses and extensive inconveniences for both banks and account holders. Moreover, the US Postal Inspection Service reported around 300,000 complaints related to mail theft in 2021, reflecting more than double the previous year's total.

This stark increase further underscores the urgency and importance of being cautious when mailing checks. In this new landscape of ever-evolving fraud tactics, heed the warnings. Keep your finances secure by exploring safer, more secure alternatives for money transfers.