Check Fraud and Mail Theft

May 15, 2024

What types of fraud can occur when a check is stolen through mail?

·         Counterfeit Checks: A fake check is created, using the account information from the stolen check to steal money from the accountholder.

·         Altered Items: Your legitimate item is carefully altered and made payable to a new payee, or for a new amount.

·         Forged or Altered Endorsements: The signature on the back of the item has been forged or changed so it can be deposited by someone other than the intended payee.

·         ACH: The routing and account information on your check is utilized to initiate fraudulent automatic payments out of your account.

How can you protect yourself from being a victim of mail theft check fraud?

·         Avoid mailing checks unless you have no other option.

·         If you must mail checks, bring them inside the Post Office, either handing them to an employee or using the indoor maildrop.

·         DO NOT place checks in blue postal boxes (especially after hours or on weekends, and most especially those NOT at a Post Office), or in your personal mailbox using the flag (that flag is known as the “hey come steal me” flag).

·         Review all cleared checks, front and back, as timely as possible. Double check the amount and payee on the front, and the endorsement on the back.

·         Utilize ACH payments whenever possible.

·         Utilize Bill Payment Services through your Online Banking.

At OceanFirst, we want to help keep you and your money safe. If you think you may have been the victim of fraud, please call our Customer Care Center at 888-623-2698. We will be there to help you. If you believe you have been the victim of mail theft, please report the incident to the US Postal Inspection Service.

https://www.uspis.gov/report

Wishing you a safe and fraud-free 2024!

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