News Insights: Security warning for paper stimulus checks

The government is “hoping” more Americans go to for their payments, Mnuchin said. “It’s much safer to send out direct deposits.”

Paper stimulus checks ‘have not gone out’ to 70 million Americans still waiting for them in the mail

News Insights:

An executive from Mitek, the provider of mobile deposit for 99 of the top 100 US banks, has a warning:

Michael Diamond, SVP and GM of digital banking, Mitek says The federal stimulus checks will unleash a flood of cybercriminal activity. This means consumers should be prepared for a rapid increase in scams over the next few weeks. Fraudsters often trick people into accepting counterfeit checks in exchange for gift cards, wire transfers or other real value, and they’ll try to capitalize while so many people have extra funds and are receiving checks. Don’t listen to anybody who says they’re unable to deposit their government stimulus check and asks you to help deposit a replacement check instead for them.”