Incidents involving mail theft-related check fraud are on the rise, which could impact individuals expecting to receive funds through a check in the mailbox. Since 2021, the U.S. Postal Inspection Service has reported a nearly 400 percent increase in mail theft-related fraud overall, and the Financial Crimes Enforcement Network (FinCEN) has seen an increase in reporting of these incidents by financial institutions, including banks and brokerage firms. This type of fraud often involves bad actors who steal physical checks from mailboxes or U.S. Postal Service (USPS) or other courier collection boxes, then alter or counterfeit the stolen checks for fraudulent purposes.

If you experience this type of theft, you might be able to recover your funds from your financial institution. However, this can take time if an investigation is involved, and you might not have access to your money until after the investigation is complete. If a check payment is stolen, your personally identifiable financial information could be compromised, and your credit score could be impacted.