ICBA and U.S. Postal Inspection Service Partner to Help Community Banks Combat Check Fraud
The Independent Community Bankers of America (ICBA) today announced a partnership with the U.S. Postal Inspection Service to combat the threat of check fraud.
As part of this initiative, ICBA and the Postal Inspection Service will deliver in-brand educational materials with step-by-step instructions to help consumers safeguard their financial assets and respond if they experience check fraud.
“Community banks have long been the cornerstone of trust and security in their communities,” ICBA President and CEO Rebeca Romero Rainey said. “By partnering with the U.S. Postal Inspection Service, we are doubling down on our commitment to help consumers combat the escalating risks of check fraud. These new digital and print handouts will empower the face-to-face conversations bankers have with customers, provide actionable guidance, and reinforce the strong relationships that community banks are known for.”
Check fraud schemes often involve the interception and alteration of legitimate checks, resulting in millions of dollars in losses each year for consumers and businesses. One in five Americans have or know someone who has been affected by check fraud, according to a recent ICBA poll conducted by Morning Consult.
“The U.S. Postal Inspection Service is committed to protecting the integrity of the mail and the financial security of the American public,” said Chief Postal Inspector Gary Barksdale. “Working with ICBA strengthens our collective efforts to combat check fraud, disrupt criminal networks, and protect consumers and businesses from criminals looking to exploit them. ”For more information about the ICBA and Postal Inspection Service partnership and to access fraud prevention resources, visit ICBA’s website.
ICBA and the Postal Inspection Service emphasize the following tips to help protect against check fraud:
Tips to Prevent Check Fraud and Protect Mail
- Send checks securely using the letter slots inside your Post Office or by handing them directly to a letter carrier. Pick up your mail promptly and avoid leaving it in your mailbox overnight.
- Contact the sender if you don’t receive mail you’re expecting.
- If you’re heading out of town, ask the local Post Office to hold your mail until you return.
- Sign up for Informed Delivery at USPS.com to receive daily email notifications of incoming mail and packages.
Additional Tips to Protect Checks
- Use pens with indelible black ink and avoid leaving blank spaces on checks to reduce the risk of alteration.
- Monitor your accounts regularly using online or mobile banking and verify that checks reach their intended recipient(s).
Steps to Take if You Are a Victim of Check Fraud
- Report fraudulent activity to your community bank and request copies of altered or counterfeit checks for your records.
- Provide law enforcement with copies of fraudulent checks and details about how, when, and where the fraud occurred to assist their investigation.
