The latest U.S. Postal Service statistics show significant increases in postal thefts. Falling victim to mail fraud and theft can cost you money, time, and frustration. It is important to be aware of what mail theft is and ways to guard against becoming a victim.
What is Mail Theft?
Mail theft involves the unauthorized interception, theft, or fraudulent use of postal mail. Criminals are increasingly targeting the U.S. mail system, with a keen focus on seizing physical checks. Business checks are especially at risk due to substantial funds typically present in business accounts. Furthermore, with the bustling nature of business operations, fraudulent activities might go unnoticed for an extended period, making it crucial to remain vigilant.
Five Tips to Help Prevent Mail Theft:
- Direct Mail Handling: Hand over your outgoing mail directly to the postal delivery service or drop it off inside the post office. Do not leave it in unprotected mailboxes or public mail drops where it is more vulnerable to theft.
- Collect Mail Promptly: Avoid leaving mail in your mailbox overnight or for extended periods. While you are away, place a vacation hold on mail or ensure a responsible individual picks it up daily.
- Secure Your Mailbox: Install a locked mailbox or use a post office box, and always be alert for suspicious people or vehicles around your mailbox.
- Monitor Financial Statements: Check your bank and credit card statements on a regular basis for unauthorized transactions.
- Shred Sensitive Information: Shred bank statements, credit card offers, and other sensitive documents before discarding them.
Bank Services That Help Reduce the Adverse Impacts of Mail Theft:
- ACH Transfers: Use Automated Clearing House (ACH) transfers for electronic movement of money, reducing the need for paper checks.
- Wires: Send a wire for large dollar amounts or urgent transfers instead of using paper checks.
- Positive Pay: Take advantage of a risk management tool that automatically matches the check amount, check number, and payee name of each check presented for payment against a list of checks issued.
As with many forms of fraud, awareness along with extra vigilance will go a long way to help prevent trouble. Follow and share these tips to help protect yourself and others against mail theft.