In light of a stark surge in fraudulent activity, the United States Postal Service (USPS) has issued a warning to Americans about the perils of mailing checks. This rise in check thefts is causing increased inconvenience for banks and their customers as fraudulent debits from checking accounts continue to escalate.
During the past year, instances of reported check fraud have seen an unprecedented surge. Banks recorded approximately 680,000 cases in the previous year, marking a staggering increase from 350,000 reported instances in 2021. This has resulted in financial losses and distress for a significant number of account holders, while banks grapple with this new wave of fraudulent activity.
This problem was initially highlighted during the onset of the global pandemic. Government relief checks, sent out to aid individuals and families during those trying times, became an unsuspecting magnet for criminal activity. The trend, unfortunately, hasn't seen any reduction but has in fact escalated, causing concern amongst both postal authorities and financial institutions.
In response to this growing issue, the USPS along with banking officials have started urging citizens to rethink their methods of sending checks. In the interest of protecting their financial resources, customers are advised to avoid mailing checks whenever possible. The traditional practice of dropping checks in the mailbox is quickly becoming a high-risk activity, leading to considerable financial losses for many.
However, if circumstances make it absolutely necessary to mail a check, USPS suggests utilizing a secure mail drop, preferably located within a post office. This measure significantly minimizes the risk of check theft and subsequently, fraudulent encashment.
In the face of rising check fraud, such precautionary steps are crucial. Ensuring the security of one's financial transactions, particularly those involving checks, has never been more important. As we adapt to the changing landscape of criminal activities, it is essential to heed advice from official bodies like USPS and our banks, who strive to protect our resources and maintain the integrity of our financial systems.