Millennial Money: Stop using paper checks, already

Sure, you’re probably not using paper checks for most things. But are you returning payments to medical providers and insurance companies in the mail? Paying by check for the random parking ticket or your child’s piano lessons? Now is a good time to stop: Check fraud tied to mail theft is up nationwide, according to a February alert from the Financial Crimes Enforcement Network. And letter carrier robberies are also on the rise.

This is partially due to the effects of the pandemic, when thieves targeted government relief checks in the mail. “Fraudsters just went back to tried-and-true potential attack factors that seemed to be working,” says Michael Bruemmer, head of global data breach resolution for Experian.

The U.S. Postal Service is vulnerable, and thieves who can access your checks can change the amount and ferret those funds right out of your bank account. And then it can take weeks to get the funds back.

“It’s absolutely a life disruption event when you mail a check and it’s been intercepted,” says Mary Ann Miller, fraud and cybercrime executive advisor and vice president of client experience at consumer identity company Prove. “That can take all the money out of your account at once.”