A Call to Action to Reduce Check Fraud
Aug 02, 2023The time has arrived for your financial institution to take steps to prepare for check fraud via the mail. The security officer was amazed by the story the accountholder was telling. It seems the local Post Office blue collection box had been used to steal checks. After checking with the postal inspectors who confirmed the story the bank would take the loss. To many times we are asked how to stop ACH fraud or check fraud like this after the barn door was left open. Your financial institution should be educating your people on this potential issue. It is time to consider:
- Using your statement stuffers to educate people on mail theft.
- Explain to accountholders to only mail letters at the Post Office. If they are going to use the blue collection box outside only deposit mail before the final pickup of the day listed on the box.
- Determine how you are going to handle a report on mail theft inside your institution.
- When your bank is asked to speak at local service clubs or community events consider adding a segment on this growing menace.
- If you have an Elder Fraud program add to it section on mail fraud these people have been trained all their lives that the mail was completely safe.
- Some people use the ostrich method of sticking their heads in the sand to stay protected. You know them by the comments like, “it won’t happen here,” until it does. As the post office takes step to regain control in the major urban areas’ criminals will react first bringing flag day to nonurban areas.
- Flag day is what criminals refer to people’s personal mailboxes. Once the flag on the mailbox is raised for the letter carrier it tells criminals the checks are here. All the criminal must do is drive a mail route before the normal carrier arrives stopping at every mailbox with the flag raised.
We have placed in our links area each month several stories about these type of attacks. Now national attention is focusing on the problem as USA Today reports here https://www.usatoday.com/
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Call To Action
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