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Hearing the phrase “the check’s in the mail” used to be a good thing.
Now it’s cause for concern — all because of check washing, an old-school scam that has become big business.
Postal Inspection Service (USPIS)interceptsan estimated $1 billion in fraudulent checks and money orders.
Robert Kiyosaki saysthis 1 asset will surge 400% in a yearand begs investors not to miss this ‘explosion’ Millionaires under 43 hold only 25% of their wealth in stocks.
Surprised?Here’s where their money is actually going Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 —here are 5 ways to build wealth like a landlord without actually being one It’s easy.
Thieves nab checks out of the mail and use nail polish remover or rubbing alcohol to erase the payee’s name and check amount, pen in a new name and amount — and laugh all the way to the bank.
This retro crime is even easier in the digital era.
Crime rings sell stolen checks on the dark web in return for cryptocurrency.
They hire “money mules” to deposit falsified checks into fraudulent accounts, according to NASDAQ Verafin (1).
At the same time, bank employees are relying more on automated processes to cash checks and less on physical inspection, so they may miss the signs of fraud.
All too often, fraudulent checks are cashed.
That’s what happened to one California couple who shared their story with The Washington Post (2).
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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