ALERT: CHECK FRAUD
Rise in Check Fraud – Protect Your Finances
Check fraud is on the rise nationwide, with incidents involving stolen checks, altered amounts, and fake deposits becoming more frequent. Criminals are increasingly targeting mailed checks and exploiting bank account vulnerabilities, sometimes causing serious financial harm before consumers are even aware of the threat.
Common Check Fraud Tactics:
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Stolen Mail: Criminals steal checks from mailboxes or USPS drop boxes. [Consider using our estatements to keep your information safe]
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Check Washing: Stolen checks are altered using chemicals to change payee names and dollar amounts.
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Fake Deposits: Fraudsters deposit counterfeit checks and quickly withdraw funds.
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Social Media Scams: Some frauds begin with viral trends that encourage people to misuse mobile banking features.
How You Can Protect Yourself:
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Limit Check Use: When possible, use secure electronic payment options instead of writing paper checks.
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Deposit Safely: Avoid mailing checks from unsecured mailboxes. Use inside post office mail slots when mailing important items.
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Use Permanent Ink: If you must write a check, use pigment-based gel ink, which is harder to alter.
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Monitor Accounts Frequently: Review your bank statements regularly and set up alerts for any check activity.
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Act Fast on Suspicious Activity: If you suspect a check has been stolen or misused, contact your financial institution and report it to the U.S. Postal Inspection Service immediately.
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Secure Your Checks: Store blank checks in a locked drawer or safe.
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Don’t Share Account Info: Never provide your check routing or account number unless you trust the recipient.
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Shred Old Checks: Properly dispose of voided or unused checks to prevent dumpster diving fraud.
If you believe you’ve been a victim of check fraud, contact kstate CREDIT UNION immediately to report the issue and take protective measures.
For more information about Fraud & Scams, visit our Security and Fraud page