Understanding and Preventing Mail Fraud

At Security Bank USA safeguarding your financial well-being is our top priority. As fraudsters continue to devise sophisticated schemes, mail fraud and mail theft are significant threats to individuals and businesses alike. In this blog, we will explore what mail fraud is, common tactics used by scammers, and actionable steps you can take to protect yourself.

What is Mail Fraud?

Mail fraud involves the use of postal services to commit fraudulent activities, typically to deceive victims into providing sensitive information, money, or access to valuable assets. These schemes often target unsuspecting individuals with convincing tactics that exploit trust and familiarity.

Common Tactics Used in Mail Fraud

1. Phishing Letters: Fraudsters send letters designed to mimic official correspondence from trusted entities like banks, government agencies, or utility companies. These letters often request personal information or payment under false pretenses.
2. Lottery and Sweepstakes Scams: Scammers claim you’ve won a prize or lottery and require an "advance fee" or personal information to claim your winnings.
3. Check Fraud: Fraudulent checks are sent with instructions to deposit the check and wire a portion of the funds back. The check eventually bounces, leaving the victim responsible for the loss.
4. Investment Scams: Offers for high-return investments arrive by mail, enticing recipients to send money to fraudulent schemes.
5. Impersonation of Loved Ones: Letters claiming to be from a family member or friend in distress who needs immediate financial assistance.

How to Protect Yourself

• Verify Correspondence: Be cautious of unsolicited letters that request personal or financial information. Contact the purported sender directly using official contact details to confirm legitimacy.
• Safeguard Sensitive Information: Avoid sharing your Social Security number, account details, or other sensitive data via mail unless absolutely necessary.
• Monitor Your Mailbox: Collect your mail promptly to prevent theft. Consider using a locked mailbox or opting for paperless statements.
• Report Suspicious Activity: If you receive suspicious mail, report it to your local postal service or the Federal Trade Commission (FTC). Retain the envelope and letter as evidence.
• Stay Educated: Familiarize yourself with common scams and share information with friends and family to help them avoid becoming victims.

Security Bank's Commitment to Your Security

We are here to help you navigate the complexities of financial security. If you ever receive suspicious correspondence related to your accounts with us, please don’t hesitate to contact our customer service team. Our experts can verify the authenticity of communications and provide guidance to protect your assets.

We highly recommend replacing your paper bank statements with electronic statements. With e-statements you don’t have to worry about your information being misplaced, stolen, or delivered to the wrong mailbox.

At Security Bank USA, we believe that awareness and education is the first step toward prevention! Please never hesitate to ask us for assistance. We can help you navigate the online banking world, and we can help you determine the legitimacy of documents you receive in the mail. Together, we can stay vigilant and outsmart fraudsters. We are always here to help you. We are Here for Good!