This crime has increased by 400%, how can you protect yourself? – The Daily FitPlay: Health, Sports & Entertainment Insights

To keep you and your money safe, I make it a point to always alert you to the proliferation of scams, from crypto catfishing to AI deepfakes. I bet you’ll be surprised by this news: the crime that increased 400% last year is old-fashioned check fraud.

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It is not high-tech, but it is very effective. In 2023, scammers stole $26.2 billion from Americans like you and me, straight from our mailboxes. You have to make sure you don’t become a statistic.

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How crooks write themselves a blank check

Scammers work together in private groups on Telegram, Facebook or TikTok to share tips and sell tools that make it easy for scams to spread. One of their tricks? Buy universal keys that allow you to open any USPS mailbox or grab blank check books from the Dark Web.

But many crooks simply take checks straight from your mailbox. They then use simple household chemicals such as acetone to dissolve the ink and write themselves (or their alias) some pocket money.

Fraudsters deposit their loot at an ATM or from their bank via a banking app, then withdraw the money in chunks so that no alerts are triggered. Before you or your bank know it, they’re off to the casino, buying designer goods or investing in real estate, you name it.

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Old-fashioned check fraud has been in vogue lately, with crime rates increasing by about 400% in the past year. (Fox News)

What are banks doing about it?

Banks combat fraud with stricter deposit policies and longer deposit retention times. So if you notice that your money isn’t being processed as quickly as it used to be, it’s because banks are spending extra time verifying deposits for possible fraud.

A recent viral TikTok glitch took advantage of JP Morgan’s direct access for bad check deposits. Scammers poured in and many were eventually charged – proof that crime doesn’t pay.

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5 ways to protect yourself and your money

Use a USPS approved lockable mailbox. This ($99.9% off) has an extra layer of security that prevents casual thieves from easily grabbing your mail.
Set alerts for suspicious activity. Check your bank account regularly for anything unusual. I set up alerts for withdrawals over a certain dollar amount, as well as fraud alerts.
Skip the mailbox. For recurring bills or one-time payments, apps like Zelle, Venmo or PayPal, or even ACH transfers, are secure and eliminate the risk of stolen checks. If you Real If you want to send something sensitive, such as birthday money, drop it off at a post office instead of in an outside mailbox.
Sign up for USPS Informed Delivery. This free service This allows you to view and track your incoming email online, so you know if anything is lost before it arrives (or not).
Use only tamper-resistant pens. My favorite low-tech solution is to write checks with a pen specifically designed to prevent the ink from being altered. This 4-pack is my favorite.

USPS Informed Delivery and tamper-resistant pens are just a few ways you can better protect yourself against check fraud. (Fox News)

If any of your checks are lost or you suspect fraud, immediately file a report not only with your bank, but also with USPS and your local law enforcement agency. Make sure you ask for a case number so you can track the progress of your claim.

The biggest check writers are baby boomers. They don’t like change.

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