Check fraud

How it works: Even with all the banking that happens digitally these days, paper checks are still used often enough that fraudsters are targeting the mail, says James Stavig, a fraud risk officer at Citi. Some have even ambushed postal clerks to steal mailbox keys. When these criminals get their hands on checks, “they change the recipient’s name and dollar amount using various forgery techniques,” he says, including bathing them in household chemicals to leave blank spaces they can fill in. They can also use account information from checks to produce forged ones.

What to do: Ideally, hand your mail directly to a mail clerk or, if you’re dropping it in a collection box, do this close to the pickup time so checks don’t sit there overnight, Stavig suggests. (The same goes if you need to leave mail in your own mailbox at home.)

When writing a check, he adds, “use indelible ink, which is more difficult to ‘wash’ from the check.” (The Uni-Ball 207 gel pen is one reliable choice.) For a nominal extra fee, you can also purchase high-security checks from your bank; these are designed with multiple anti-fraud features such as chemical-wash detection or thermochromic ink that disappears when heat is applied. And it’s always a good idea to closely monitor activity on your account to catch any unauthorized transactions.

Another option is to change your payment method, notes Kenneth Conner, vice president of scam policy and communications at Citi. “If you haven’t explored digital payments, this is a great alternative to checks,” he says, “because it allows for a much faster and more secure movement of funds.”

ATM distraction fraud

How it works: Fraudsters pose as actual consumers waiting in line to use an ATM. Standing close behind you, they view your PIN number as you enter it. Next, they ask you a question or stealthily drop money by your feet and then point it out to you as though they’re doing you a favor. “Once they’ve taken your attention away from the ATM transaction, they pickpocket your card or remove it from the dispenser and replace it with a fake version,” Mansfield says. “This means they now have what they need to withdraw money from your account.”

What to do: Choose your ATM vestibule wisely. “Avoid any that aren’t well-lit, have unlocked doors or are directly out on the street,” Mansfield says, “and when you enter the vestibule, make sure the door closes behind you.” Additionally, be on the lookout for suspicious people who may approach you. “You can use mirrors positioned on the machine to see behind you,” he notes.

It's important to limit your interactions with others and avoid multi-tasking while you’re using the ATM. During your transaction, “be sure to block the view of any bystanders, and don’t take your eyes off the screen and card slot,” Mansfield advises, noting you’ll also want to act quickly when the bills are dispensed. “Put your money away and take your card and receipt immediately,” he says, “and check the card to ensure that it’s yours and hasn’t been switched with a card in another name. If it has, let your financial institution know immediately.”