---
title: FinCEN Analysis on Mail Theft-Related Check Fraud
description: FinCEN's latest analysis reveals a surge in mail theft-related check fraud, with $688 million in suspicious activity reported. Learn how to protect your institution from these risks.
---

[Banker's Compliance Consulting Blog ](https://blog.bankerscompliance.com/en)

# [FinCEN Analysis on Mail Theft-Related Check Fraud](https://blog.bankerscompliance.com/en/fincen-analysis-on-mail-theft-related-check-fraud)

 Written by [Kevin Edwards](https://blog.bankerscompliance.com/en/author/kevin-edwards) | Sep 23, 2024 8:05:36 PM

Back in February 2023, FinCEN issued an [Alert](https://www.fincen.gov/sites/default/files/shared/FinCEN%20Alert%20Mail%20Theft-Related%20Check%20Fraud%20FINAL%20508.pdf) to bring awareness to an increase in mail theft-related check fraud. The Alert provided several red flag indicators as well as a request to include the key term “FIN-2023-MAILTHEFT” in any applicable SARs. Just recently, FinCEN released a [Financial Trend Analysis](https://www.fincen.gov/sites/default/files/shared/FTA-Check-Fraud-FINAL508.pdf) (Analysis) on mail theft-related check fraud which encompasses the six month period following its 2023 Alert.

The Analysis points out that, during this time period, FinCEN received 15,417 reports of mail theft-related check fraud from 841 different financial institutions, with banks filing 88% of those reports. The resulting suspicious activity, including both actual and attempted transactions, exceeded $688 million. FinCEN discovered that, once checks were stolen by the perpetrators, there were three common outcomes. These include:

1. Altering a stolen check and then depositing it into an account (44%);
2. Creating a counterfeit check using information from a stolen check (26%); and,
3. Fraudulently signing a check and then depositing it into an account (20%).

We encourage you to give this Analysis a read and incorporate it into your BSA training. The biggest thing you can do to help prevent this type of activity is create awareness among your employees.

Published  
2024/10/23

[View full post](https://blog.bankerscompliance.com/en/fincen-analysis-on-mail-theft-related-check-fraud)

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