We are encouraging our customers to be on alert of a trending bank fraud called “check washing”. This process starts when a scammer steals your check – typically intercepted through the mail – then uses chemicals to “wash” off the ink, fills in their own name, then cashes it at an unsuspecting bank.
The theft of mail puts not only personal checks at risk but also business checks, tax refunds and government benefits. The use of paper checks has been declining for decades, yet criminals continue to target mailboxes to commit check fraud. Criminals have even gone as far as selling copies of washed checks online. Criminals may also have to steal the identity of the recipient or, the the case of business checks, create a fake business with a similar name, then open a bank account in that name.
So what can you do to help mitigate this fraud?
We recommend the use of electronic payment methods such as electronic ACH (automatic clearing house) payments, or even money wires for the security of larger funds transfers. If you have to send a paper check, do your own due diligence and monitor your bank account regularly to confirm that checks have cleared your account for the correct amount or have been cashed to the correct person – and ALWAYS alert your bank if you ever suspect anything suspicious.
Please check out the following article from the United States Postal Inspect Service.
Have you ever sent a check that was cashed, but the recipient said it never arrived? You may be the victim of check washing. Check washing scams involve changing the payee names and often the dollar amounts on checks and fraudulently depositing them. Occasionally, these checks are stolen from mailboxes and washed in chemicals to remove the ink. Some scammers will even use copiers or scanners to print fake copies of a check. In fact, Postal Inspectors recover more than $1 billion in counterfeit checks and money orders every year, but you can take steps to protect yourself.
Monitor Your Bank Account
We recommend logging into your online or mobile banking daily to monitor account activity.
Deposit Mail Before Last Pickup
Deposit your outgoing mail in blue collection boxes before the last pickup or at your local Post Office™.
Retrieve Mail Frequently
Never leave your mail in your mailbox overnight.
Hold Mail at Post Office
If you’re going on vacation, have your mail held at the Post Office or have it picked up by a friend or neighbor.
