In an era of digital payments, you’d think paper checks would be obsolete. Instead, check fraud is experiencing a shocking resurgence. Criminals are stealing checks from mailboxes, washing them with household chemicals, and cashing them for thousands of dollars.<\/p>\n\n\n\n
According to FinCEN<\/a>, financial institutions reported over $688 million in suspicious check fraud activity in just six months of 2023, with suspicious activity reports increasing by 90% from 2021 to 2023. The estimated total losses reached $21 billion in 2023. Financial institutions saw a 10% increase in attempted check fraud cases from 2023 to 2024, despite declining check usage nationwide.<\/p>\n\n\n\n Before you mail that rent check or deposit a check from an unknown sender, verify the source with Social Catfish<\/a> to protect yourself from becoming the next victim.<\/p>\n\n\n\n Let’s explore why check fraud is surging, who’s most vulnerable, and how you can protect yourself.<\/p>\n\n\n\n