DO NOT Send Checks In Mail Anymore In North Dakota
If at all possible, please stop mailing checks because there has been a significant issue.
Sending checks in the mail is currently plagued by a serious issue that isn't going away. Has there ever been an instance where you sent someone a check via mail and they claimed not to have received it?
Check theft is a serious issue caused by organized crime. According to officials, the checks are usually stolen by a group of people. To see transactions and create a digital trail, if at all possible, transfer money using digital platforms.
How are criminals stealing checks?
'Check washing' is the most popular method used by check thieves. When someone breaks into your mailbox, finds a check, takes it, and then alters the name and amount, it's known as "check washing." To cash the check, thieves may, in certain situations, have even created a fictitious account.
There is another method called 'Melted Ink':
The perpetrators used technology that melted ink in the “to” field of the checks so they could write in fake names. FischTank instructed all its clients to change their paper format because it was dealing with a check fraud issue", according to WIVB.
How many checks have been stolen?
In the previous year, banks notified the Financial Crimes Enforcement Network of almost 680,000 instances of check fraud. That has nearly doubled in the past two years. It's been millions upon millions of dollars stolen. It is not always possible to get the money back.
Who is even still writing checks?
There are a lot of checks written, surprisingly enough. Actually, in 2022, checks totaling 3.4 billion were written. However, that is nothing in comparison to 1990, before the digital era.
Nineteen billion checks were written in 1990.
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