To ensure your money stays secure, I always aim to inform you about emerging scams, including everything from crypto scams to AI deepfakes. Get ready for a shock: the crime that surged by 400% last year is good old-fashioned check fraud, according to the Financial Crimes Enforcement Network of the U.S. Treasury.

This type of crime may lack sophisticated technology but is frighteningly effective. In 2023, con artists pilfered $26.2 billion from unsuspecting individuals like us, directly from our mailboxes. It’s important to take steps so you don’t fall victim.

How scammers steal money using checks

Criminals organize in private groups on social media platforms like Telegram, Facebook, and TikTok to exchange advice and trade tools that facilitate their criminal activities. One common tactic? Purchasing universal keys that can unlock any USPS drop box or acquiring books of blank checks from the Dark Web.

However, many thieves simply snatch checks from your mailbox. They then employ basic household substances, like acetone, to remove the original ink and write checks in their own name or an alias.

Fraudsters often deposit the stolen checks at ATMs or via banking apps from the comfort of their homes, then they take out the money in small amounts to avoid raising suspicion. Before you or your bank know it, they could be on their way to a casino or splurging on luxury items or real estate.

How banks are responding

Banks are responding to this wave of fraud by implementing stricter deposit rules and extending the hold period on deposits. If you notice that your money isn’t becoming available as quickly as before, it’s likely due to these additional security measures aimed at fraud prevention.

A recent viral glitch on TikTok took advantage of J.P. Morgan’s instant access feature for depositing bad checks, leading to a flood of fraudulent activity that resulted in several perpetrators being sued— a stark reminder that crime doesn’t pay.

Invest in a USPS-approved locking mailbox. These mailboxes offer an extra layer of protection, preventing casual thieves from easily accessing your mail. There’s one available for only ($99, 9% discount).

Set up alerts for suspicious transactions. Regularly review your bank account for any irregularities. Personally, I have alerts activated for withdrawals exceeding a set limit, in addition to fraud notifications.

Skip using a mailbox for sending payments. When making recurring or one-time payments, opt for secure apps like Zelle, Venmo, PayPal, or ACH transfers to eliminate the risk of theft. If you must send sensitive items, like birthday gifts, deliver them directly at a post office instead of using an outside mailbox.

Register for USPS Informed Delivery. This no-cost service allows you to view and track your incoming mail online, so you’ll be aware of any missing items before they arrive (or don’t).

Choose fraud-resistant pens for writing checks. A simple yet effective solution is to use a pen specifically designed to prevent alteration of ink.

This 4-pack is my preferred choice.

If any of your checks go missing or you suspect fraudulent activity, file a report immediately with not just your bank, but also with USPS and local law enforcement. Be sure to obtain a case number for tracking your claim.

The primary users of checks are baby boomers, who tend to resist change.

The opinions expressed in this article are solely those of the author and do not necessarily represent the views of YSL News. Stay updated on the latest technology trends on the Kim Komando Show, the largest weekend radio talk show in the nation, where Kim takes calls and provides insights on today’s digital lifestyle—from smartphones to online security. For daily tips, free newsletters, and more, visit her website.