Stimulus-check fraud is on the rise, says Advanced Fraud Solutions, a High Point, N.C.-based provider of fraud-mitigation tools. Of 1 million checks screened by AFS, 41,000 have been identified as fraudulent, the company says. Legitimate checks were issued by the U.S. Department of the Treasury starting in March as part of the CARES Act. Through mid-June, Treasury had issued nearly 160 million checks.
The trend detected by AFS reflects a shift in criminals’ focus when it comes to perpetrating fraud. In a public-service announcement, the Federal Bureau of Investigation warned that criminals are likely to begin looking for ways to fraudulently exploit government stimulus checks.