International Fraud Awareness Week & Mail Fraud

This year, International Fraud Awareness Week is November 17th-23rd. The Association of Certified Fraud Examiners (ACFE) established the week in 2000 as a dedicated time to raise awareness about fraud. We aim to protect and minimize the impact of fraud on our members through anti-fraud advocacy and education year-round. We encourage you to join us this week to learn about the latest fraud schemes and how to combat them.

A common scam nowadays is mail-related check fraud. Although we may be writing fewer checks nowadays, fraudsters still commit check fraud by targeting the United States Mail Service to steal personal, business, tax refund, and government assistance checks (e.g. Social Security and Unemployment). According to the Financial Crimes Enforcement Network, over $688 million in suspicious activity was reported in 2022.

Bad actors typically target mail collection boxes, residential mailboxes, and clustered mailbox units. They remove checks from mailboxes and alter them to be deposited into their accounts. Bad actors use check washing to alter checks, which involves changing payees or dollar amounts using chemicals that remove the ink. Postal Inspectors recover over $1 billion yearly in counterfeit checks and money orders.

Financial Institutions are trained to spot the red flags of check tampering at the time of deposit, but many fraudsters refrain from cashing the checks in person by using mobile deposit apps and ATMs. You can protect yourself from mail-related check fraud by knowing how to prevent them from getting your mail in the first place and when and how to report suspicious activity.

Here are a few ways to protect your mail:

Use the letter slots inside your Post Office. Rember, raising the flag on your home mailbox can signal to bad actors that something valuable might be there.

Pick up your mail promptly after delivery.

Do not leave mail in your mailbox overnight. Ask a trusted friend or neighbor to pick up your mail if you expect checks, credit cards, or other negotiable items.

If you expect a check or other valuable mail and have not received it, contact the issuing agency immediately.

Notify the Post Office of travel dates. They can safeguard your mail while you’re gone.

If you suspect mail theft, you should notify your financial institution immediately. You can also report it to your local police agency and file a formal complaint with the United States Postal Inspection Service at 1-877-876-2455.

Citations

Financial Crimes Enforcement Network, (September 09, 2024) “FinCEN Issues In-Depth Analysis of Check Fraud Related to Mail Theft,” Accessed October 2024, https://www.fincen.gov/news/news-releases/fincen-issues-depth-analysis-check-fraud-related-mail-theft

United States Postal Inspection Service, (October 04, 2024) “Check Washing”, Accessed October 2024, https://www.uspis.gov/news/scam-article/check-washing

Heckman, Jory (September 17, 2024) ”USPS mail theft led to $688M in ‘suspicious activity’ tied to check fraud”, Federal News Network, Accessed September 2024, https://federalnewsnetwork.com/agency-oversight/2024/09/usps-mail-theft-led-to-688m-in-suspicious-activity-tied-to-check-fraud/#:~:text=These%20techniques%20range%20from%20using,to%20steal%20mail%20and%20packages.

Association of Certified Fraud Examiners, (n.a) “International Fraud Awareness Week” Accessed September 2024, https://www.fraudweek.com/

Posted by: Ashton Osborne, Public Relations Specialist