03/25/2024

ABA and U.S. Postal Inspection Service Announce Partnership to Combat Check Fraud

All Members

WASHINGTON —

The American Bankers Association and the U.S. Postal Inspection Service today announced a new joint effort to combat the rapid rise in check fraud, which has increased nationwide by 385% since the pandemic, according to the U.S. Treasury Department. Check fraud schemes commonly target the U.S. mail to steal checks, alter or wash them to change the payee and dollar amount, and ultimately steal money from victims’ accounts.

ABA and USPIS’ anti-check fraud initiative will focus on four main areas: educating U.S. Postal Service and bank customers about check fraud and what they can do to protect themselves; addressing money mules and collusive accountholders; collaborating with law enforcement; and training bank employees and postal workers on red flags and prevention.

“We appreciate this opportunity to join with U.S. Postal Inspection Service to inform and protect consumers,” said ABA President and CEO Rob Nichols. “Working together to address the unprecedented rise in check fraud offers us a number of opportunities to make a difference, including educating the public on how to safely use the mail system to send checks while also taking advantage of the advancements in payments technology banks offer.”

“The U.S. Postal Inspection Service is proud to partner with the American Bankers Association to raise awareness among the public about check fraud and steps that can be taken to prevent it,” said Chief Postal Inspector Gary Barksdale. “Postal customers are also the customers of the American Bankers Association’s member financial institutions, and so we share a common sense of responsibility to protect those customers from check fraud and financial harm. Awareness of check fraud and check fraud prevention strategies will empower the public to protect themselves from financial harm while making it more difficult for criminals to perpetrate this crime.”

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