Key Takeaways:
- Mail theft and fraud continue to increase in the United States, exposing businesses to dangerous financial impacts.
- Checks contain all the information a fraudster needs to create a counterfeit check or ACH transaction.
- At Comerica Bank, we’ve implemented check fraud services to protect your business against financial loss.
Mail theft is rising in the U.S.
According to the United States Postal Service (USPS), the first half of 2023 saw record levels of mail theft and fraudulent activity. The USPS registered 305 instances of letter carrier robbery and 25,000 incidents of theft.
Criminals are getting more sophisticated in their efforts. In Missouri, for example, one man was sentenced to 20 months in prison after attempting to bribe postal carriers. For businesses, the rise in mail theft and the expansion of fraudulent activity is a worrying sign.
In this article, we’re going to take a look at why mail theft is on the rise, how the USPS is working to limit crime, and proactive steps you can take to protect your business.
Incidents of mail theft and fraud are rising. Is your business protected?
Why is mail theft and fraudulent activity on the rise?
Every year, USPS mail carriers deliver nearly 130 billion pieces of mail. With so much mail moving throughout the country, criminals have targeted mail theft as an easy way to get their hands on potentially valuable financial tools. With stolen checks, fraudsters have all the information they need to create counterfeit or altered checks and fraudulent ACH transactions.
Until recently, many USPS mail carriers used an arrow key. This key gave them universal access to mailboxes — making arrow keys a prime target for thieves. Additionally, criminals target unattended vehicles or directly rob carriers as they are delivering large amounts of mail.
Given the potential value of the information contained on a paper check, it’s not surprising mail theft has become a major issue.
Criminals deploy a range of tactics to steal mail and perpetuate fraud. From stealing arrow keys and collection boxes to counterfeit postage and check fraud, opportunities for crime are widely available.
What is the Postal Service doing about this issue?
In May 2023, the USPS and the U.S. Postal Inspection Service (USPIS) launched Project Safe Delivery, an initiative designed to crack down on mail theft and fraudulent activity.
“We’re doubling down on our efforts to protect our Postal employees and the security of the mail. We are hardening targets – both physical and digital – to make them less desirable to thieves and working with our law enforcement partners to bring perpetrators to justice,” said Postal Inspection Service Chief Gary Barksdale.
Additionally, the Postal Service has been aggressive in pursuing criminals who assault mail carriers. In 2024, arrests are up 73%.
The Postal Service is taking an active stance to reduce crime.
How can businesses protect themselves?
Reducing your reliance on checks is the easiest way to protect your company from check fraud. But to protect your company mail, it’s important to take proactive steps. In a 2023 national release, the USPS outlined 5 key actions anyone can take to reduce the risk of theft and fraud.
- Don’t let incoming or outgoing mail sit in your mailbox. You can significantly reduce the chance of being victimized by simply removing your mail from your mailbox every day.
- Deposit outgoing mail through a number of secure manners, including inside your local Post Office or at your place of business or by handing it to a letter carrier.
- Sign up for Informed Delivery and get daily digest emails that preview your mail and packages scheduled to arrive soon.
- Become involved and engaged in your neighborhood via neighborhood watches and local social media groups to spread awareness and share information.
- Keep an eye out for your letter carrier. If you see something that looks suspicious, or you see someone following your carrier, call 911.
At Comerica, we’re also working hard to protect our customers. We recommend Comerica Positive Pay, a fraud protection tool that enables business customers to monitor their check activity and decide which items to pay.
To protect your business, take proactive steps. Move to electronic payments. Monitor your mail closely and take advantage of advanced check fraud protection.
Protect your finances with a strong banking partner.
As incidents of mail theft and fraud rise in the U.S., it’s important to consider leveraging alternative payment methods and reduce your reliance on paper checks. It's also critical to work with a bank that provides solutions and tools to help keep your money protected. At Comerica, we’re investing heavily in tools and resources to help our customers run their businesses without worrying about disruptions from theft and fraud. Learn more about Comerica’s tools to fight fraud or contact your Comerica Relationship Manager.
This article is provided for informational purposes only. While the information contained within has been compiled from source[s] which are believed to be reliable and accurate, Comerica Bank does not guarantee its accuracy. Consequently, it should not be considered a comprehensive statement on any matter nor be relied upon as such.
Member FDIC. Equal Opportunity Lender.
