In 2022, a whopping 680,000 cases of check fraud were reported to the Financial Crimes Enforcement Network (FinCEN), almost double the number of reports in 2021. It turns out that our mail system is a major weak point when it comes to check security. In fact, the U.S. Postal Inspection Service discovered that incidents of mail theft doubled in 2021 compared to the previous year. What's concerning is that checks can be easily stolen from the mail and altered to make them payable to someone else. It's crucial for us to be aware of this issue and take steps to protect our financial documents.

With check fraud on the rise, here are some tips you can follow to avoid the frustration and stress that come with being a victim.

• Monitor your account balances for suspicious activity. Instead of waiting for your statements, use Online and Mobile Banking to get real-time updates.
• Having financial information in the mail presents an opportunity for thieves to steal your financial identity. Opt for eStatements so that your information can be delivered to you in a faster and safer manner.
• Where possible, use electronic payments (via debit or credit card) rather than checks. Using cards is generally safer than writing checks, plus you can dispute fraudulent transactions.
• If you must mail a check, use security envelopes to mask what is inside. You may even want to put another piece of paper around the check. Do not write anything on the envelope that may indicate there is a check inside. Verify that the address you are sending the check to is the official address provided by a trustworthy business or individual. Finally, drop off your mail directly with the Post Office to avoid thieves stealing it from your mailbox or fishing it out of collection bins.