Bank Groups Call for Swift, Secure Transition as Treasury Phases Out Paper Checks
Fintech Finance
JULY 2, 2025
According to a FinCEN study examining reports from February to August 2023, mail theft alone resulted in $688 million in losses. By the Numbers: Check fraud accounted for about 32% of all fraud losses in 2024, according to Federal Reserve data. Many of these checks are acquired through mail theft.
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