By: Kayla E. Thomas, JBT Fraud & Security Officer, CCBSO
The United States Postal Service (USPS) is a stich in the fabric of America. It is not only an extension of the executive branch, and one of the few government agencies that is explicitly authorized by the U.S. Constitution, but it has a rich history that dates back nearly 250 years, to when Benjamin Franklin was appointed the first postmaster general, thus the beginning of what would become known as the United States Postal Service.
Unfortunately, since the 1980s, USPS has faced several obstacles such as many direct subsidies having been reduced or limited, as well as the ongoing competition with emerging technologies. One of the most recent obstacles USPS is facing, which consequently has caused a ripple effect throughout the country, is the rise in mail theft and robberies of carriers. According to a May 2021 report from the United States Postal Inspector, between March 2020 and February 2021, there was a 161% increase in mail theft reported to the U.S. Postal Inspector.
So, what exactly are these criminals looking for when they steal the mail? Checks!
Although they may steal other pieces of mail that contain personal identifying information (PII), they're mainly interested in checks. In most cases, the stolen checks are washed using a concoction of household chemicals, altered to change the payee and in some incidents, the amount and date of the check. The payee of the stolen, altered check is usually the victim of some type of scam, who is expecting to receive money as a result of said scam.
While it's abundantly clear that there is an issue with increasing mail theft throughout the country, what is unclear is what (if anything) USPS is doing to protect the mail and prevent further thefts from occurring. This unfortunate reality means it's up to us as individuals and as bankers to be our own advocates. Let's take a look at some ways we can protect ourselves and our clients from mail theft that results in check fraud:
1. Do not use the USPS blue boxes to drop-off mail.
2. Pay bills electronically or use bill pay.
3. Immediately report mail theft to local law enforcement and the U.S. Postal Inspector.
4. Utilize Positive Pay—Business Clients Only.
While the world is a much different place today than it was 250 years ago, one thing that hasn’t changed is that there are always criminals creeping around the corner, waiting for the right opportunity to make their move. Remember to be vigilant, always be aware of your surroundings, and if you see something—say something!