The big story of check fraud is not only its vast cost to the country and to individual victims, but simply the remarkable rate at which it is increasing. On this episode of the ABA Fraudcast, ABA’s Paul Benda discusses with Caitlin Piasecki of the United States Postal Inspection Service the enormous scale and challenge of addressing mail theft, a common venue for criminals to access paper checks.
Piasecki describes how the internet serves as a perfect sharing and recruiting platform for criminals aiming to get their hands on as many paper checks as possible. Encrypted platforms are where criminal organizations in New Jersey can easily connect with those operating in Los Angeles, she notes. “We have seen a huge influx in the complex nature these investigations have taken, where previously it was a local group in a local area,” she says.
The ABA Fraudcast will be published every two weeks, on this site, in ABA Daily Newsbytes and wherever you listen to and subscribe to your favorite podcasts.
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ABA offers resources at aba.com/checkfraud to help banks prevent, identify, measure and report check fraud, and to help consumers protect their financial data.
In this episode:
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Host, ABA Fraudcast
