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FINCEN ALERT ON NATIONWIDE SURGE IN MAIL THEFT-RELATED CHECK FRAUD SCHEMES
TARGETING THE U.S. MAIL

Immediate Release
February 27, 2023

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) is issuing an
alert to financial institutions on the nationwide surge in check fraud schemes
targeting the U.S. Mail. Fraud, including check fraud, is the largest source of
illicit proceeds in the United States and is one of the anti-money
laundering/countering the financing of terrorism (AML/CFT) National Priorities.
In coordination with the United States Postal Inspection Service (USPIS), FinCEN
has identified red flags to help financial institutions detect, prevent, and
report suspicious activity connected to mail theft-related check fraud.

“FinCEN is proud to partner with the United States Postal Inspection Service in
producing this important and timely alert on mail theft-related check fraud
designed to assist financial institutions in reversing this disturbing trend,”
said Acting Director Himamauli Das. “Their vigilance and timely reporting will
help law enforcement identify illicit actors who steal mail with the goal of
defrauding innocent American taxpayers and businesses.”

Criminals have been increasingly targeting the U.S. Mail and United States
Postal Service mail carriers since the COVID-19 pandemic to commit check fraud.
Criminals typically steal personal checks, business checks, tax refund checks,
and checks related to government assistance programs, such as Social Security
payments and unemployment benefits. Following the initial theft and fraudulent
negotiation of the stolen checks, criminals may continue to exploit their
victims by using the personal identifiable information found in the stolen mail
for future fraud schemes, such as credit card fraud or credit account fraud.

Bank Secrecy Act reporting for check fraud has increased significantly in the
last three years. In 2021, financial institutions filed over 350,000 Suspicious
Activity Reports (SARs) to FinCEN to report potential check fraud, a 23 percent
increase over the number of check fraud-related SARs filed in 2020. This upward
trend continued into 2022, when the number of SARs related to check fraud
reached over 680,000, nearly double from the previous year’s amount of filings.

In addition to filing a SAR, as applicable, when suspecting this type of fraud,
financial institutions should refer their customers who may be victims of mail
theft-related check fraud to the USPIS at 1-877-876-2455 or
https://www.uspis.gov/report.

###

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