9
Still Writing Checks? Watch Out: Crooks Are Stealing Them From Mailboxes
In today’s digitally connected world, fewer people are writing checks.
But those of us who still use paper checks should be aware of an alarming new trend: There’s been a huge spike in the number of checks being stolen from mailboxes.
Check fraud linked to mail theft is on the rise, according to a recent alert from the U.S. Treasury Department.
Here’s how it happens:
This practice is called “check washing,” and AARP recently warned its 38 million members about it. (Older people are more likely to use paper checks, according to a number of studies and surveys.)
“Check washing is soaring because criminals who stole government stimulus checks and unemployment checks during the pandemic are now looking for new sources of income,” AARP said.
Why are the feds and AARP up in arms over this? How much worse has the problem gotten? The numbers are mind-boggling.
Banks’ reports of check fraud nearly doubled from 350,000 in 2021 to 680,000 in 2022, according to the Treasury Department.
Meanwhile, the U.S. Postal Inspection Service reports that it received nearly 300,000 complaints of mail theft from March 2020 to February 2021 — a whopping 160% increase compared with the previous year.
With this huge surge in check theft and check washing, how can you protect yourself and your bank account? AARP offers six tips:
You can also report mail theft to the U.S. Postal Inspection Service and the local police.
Here’s another tip, courtesy of a New York Times interview with an AARP fraud expert:
If you’re expecting a check in the mail (or some other important mail), sign up for the Postal Service’s free Informed Delivery service, which emails you photos of mail that’s about to arrive in your mailbox. That way you’ll know when it’s coming.
The upshot: Fewer people are writing checks these days, but more checks are being stolen. If you’re still writing checks — and no judgment here if you are — it’s important to take steps to protect yourself.
Mike Brassfield (mike@thepennyhoarder.com) is a senior writer at The Penny Hoarder.
Ready to stop worrying about money?
Get the Penny Hoarder Daily
Some of the links in this post are from our sponsors. We strive to provide accurate, reliable information.
Compensation may influence how and where products appear on our site (including their order), and we do not include all companies or offers.