Spot the signs
Check fraud and mail theft combine old tactics with new twists. Fraudsters steal checks from mailboxes, alter them for higher amounts or new payees, and attempt to cash or deposit them. Rising mail theft has made this one of the fastest-growing scams in the U.S. According to the U.S. Postal Inspection Service, thousands of checks are stolen each month.
Altered checks or stolen mail can lead to financial loss and identity theft if not caught quickly. Keep an eye out for:
Jenny runs a growing small business and mailed out vendor payments every month like clockwork. At first, nothing seemed unusual. But soon several vendors called asking why their checks hadn’t arrived. Concern turned to alarm when one vendor reported a check had been deposited — except it wasn’t in their account.
Jenny looked closer and realized the checks had been stolen, altered for much larger amounts, and cashed under different names.
She contacted 1st Source Bank, who walked her through the fraud report and helped secure her accounts. With guidance from her banker, Jenny moved her vendor payments online. Now she has real-time confirmation when payments go out, stronger fraud protection, and peace of mind that her business funds are secure.
Criminals may steal mail to commit check fraud, altering stolen checks to deposit them illegally. This often starts with mail theft, especially from residential mailboxes. Here’s what happens:
Take the stress out of paying bills. These articles show safer ways to send and receive money.
If you suspect check fraud or missing mail, don’t panic. Contact us through our Report Fraud page and also file a complaint with the U.S. Postal Inspection Service.
It’s a free resource that helps you create a recovery plan.
Mailing checks carries more risk than electronic payments. Safer alternatives include online bill pay, ACH transfers, or solutions like Immediate Payments and Request for Payment from 1st Source Bank.
See our full list here:
