The Federal Bureau of Investigation (FBI) reported:
Alert Number: I-012725-PSA was issued on January 27, 2025 and titled: Mail Theft-Related Check Fraud is on the Rise.
Fraudsters take advantage of regulations requiring financial institutions to make check funds available within specified timeframes, which is often too short a window for the consumer or financial institutions to identify and stop the fraud. As a result, the compromised checks clear, and the funds are withdrawn by the criminal participants before the fraud is detected.
How fraudsters get checks:
Find the PSA and read more here.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Alert Number: I-012725-PSA was issued on January 27, 2025 and titled: Mail Theft-Related Check Fraud is on the Rise.
Fraudsters take advantage of regulations requiring financial institutions to make check funds available within specified timeframes, which is often too short a window for the consumer or financial institutions to identify and stop the fraud. As a result, the compromised checks clear, and the funds are withdrawn by the criminal participants before the fraud is detected.
How fraudsters get checks:
- Checks left in residential mailboxes overnight or for long periods of time
- USPS blue collection boxes after the last pickup time
- Burglary of USPS facilities
- Robbery of USPS employees
- Bribery/collusion of USPS employees
Find the PSA and read more here.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat