Thursday, November 21

Bitcoin

How cybercrooks convert paper checks stolen from mailboxes into cryptocurrencies like bitcoin
Bitcoin, Money, Paper Checks

How cybercrooks convert paper checks stolen from mailboxes into cryptocurrencies like bitcoin

Mailboxes are increasingly becoming the scene of a crime. GregAIT/E+ via Getty Images David Maimon, Georgia State University While cybercrime gets a lot of attention from law enforcement and the media these days, I’ve been documenting a less high-tech threat emerging in recent months: a surge in stolen checks. Criminals are increasingly targeting U.S. Postal Service and personal mailboxes to pilfer filled-out checks and sell them over the internet using social media platforms. The buyers then alter the payee and amount listed on the checks to rob victims’ bank accounts of thousands of dollars. While the banks themselves typically bear the financial burden and reimburse targeted accounts, criminals can use the checks to steal victims’ identities, which can have severe consequences. ...