![]() ![]() Next, they use special solvents to erase the check’s content.There have even been reports of criminals robbing mail carriers at gunpoint for mailbox keys and mail. Fraudsters steal mail, force their way into public mailboxes, or even steal arrow keys from the U.S. Scammers break into mailboxes to intercept checks.Here’s how a common check forgery scam works: The Federal Reserve estimates that more than 3.5 billion check transactions took place in 2021 - giving scammers plenty of opportunities to defraud you. However, check fraud has increased in recent years because scammers have discovered that forging a check is easier than bypassing a bank’s digital fraud protection. What Is Check Forgery? How Do Scammers Cash Stolen Checks?Ĭheck forgery is a classic scam that has existed for as long as checks have existed. In this guide, we’ll explain exactly what to do if someone forged your signature on a check and then cashed it. If you think (or know) that someone has forged a check in your name, it’s imperative that you act quickly to protect your finances and identity. Unfortunately, numerous other scams - that fraudsters can commit using your checking account details - are not covered.Ī physical check can give scammers enough information to steal your identity and drain your bank account. The good news is that check fraud losses are often covered by your bank. Ĭheck fraud may seem old-fashioned, but it’s still a lucrative scam for fraudsters.Īccording to the Federal Trade Commission (FTC), there were nearly 40,000 reports of check fraud in 2021 - costing Americans $78 million. That all changed when someone stole a $42 check that Rudy had sent to pay his phone bill - and used it to withdraw $7,000 from the veteran’s bank account. Rudy Markard had heard of check forgery, but he never thought he would be a victim. What Can Scammers Do With a Stolen Check? ![]()
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