R.O.S.E., Resources/Outreach to Safeguard the Elderly
It seems every week you hear reports that someone has broken into the community mailbox. But why?
In the digital age, financial fraud takes many forms, but one old-school method that is far from digital is making a comeback—check washing. This type of fraud involves altering the details on a legitimate check to redirect funds into the scammer’s account. It’s a crafty scheme that preys on unsuspecting victims, but with vigilance and a few preventive measures, you can safeguard yourself against becoming a target.
This particular scam was very popular decades ago, but it is making headlines again. So much so that the FBI put out a bulletin on the topic late last year. Check washing typically begins with thieves stealing mail directly from your mailbox or obtaining a discarded check. Once they have a check in hand, they use various chemicals to erase the ink, leaving the paper intact but the details faded. They rewrite the check to themselves or an accomplice, often for a much larger sum. The altered check is then deposited, and the funds are swiftly withdrawn before the victim realizes what has happened.
To avoid falling victim to check washing fraud, there are several proactive steps you can take.
* Consider using electronic payments whenever possible. Direct deposits, online bill payments, and electronic fund transfers eliminate the physical check altogether, reducing the risk of interception.
* Regularly monitor your bank statements and account activity for any suspicious transactions and balance your checkbook monthly. Promptly reporting any discrepancies to your bank can prevent further unauthorized withdrawals.
* Consider signing up for the United States Postal Service’s Informed Delivery service. This service allows you to get an email that contains images of all of the mail you will be receiving that day. If a theft occurs, you’ll know what items may have been taken.
* Invest in security measures for your physical checks. Consider buying checks with security features such as watermarks, microprinting, and chemical protection. These features make it more difficult for fraudsters to alter the checks successfully.
* Store your checks and sensitive financial documents in a secure location, preferably a locked drawer or safe. Be careful when sharing personal information with strangers.
* Use a gel pen when writing out checks. The ink in a gel pen can’t be washed like traditional ink.
* Use blue post office collection boxes located at the post office.
By staying vigilant and taking proactive steps to protect your finances, you can reduce the risk of falling victim to check washing fraud and other forms of financial scams. Safeguarding your personal and financial information is essential in today’s digital landscape, where cybercriminals are constantly devising new ways to exploit unsuspecting individuals.
R.O.S.E. seeks to create change by educating and providing awareness of financial scams that typically target the older adult population, with a focus on those age 60 and over. For more information and resources, visit roseadvocacy.org, email us at [email protected], or call us at 602-445-7673.