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News

Postage Fraud Is The Nerdiest Fraud Of All

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Photo by kevindooley via Flickr
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Nerdy, sure. But also tremendously costly. A contributing factor to the U.S. Postal Service's budget vortex, "an estimated $134.4 million dollars of its annual revenue is quietly slipping away to counterfeiters and perpetrators of other types of postal fraud," reports FOX LA.

Counterfeit stamps have been named one of the 10 biggest threats to USPS revenue with resulting damage playing a part in the $8.5 billion reported loss last fiscal year.

FOX LA warns that civilians are also being affected by forgeries, and people picking up stamps online or at local stores could be unknowingly buying counterfeits. Says Postal Inspector Michael Romano, "To avoid being scammed, U.S. Postal Service stamps and products should be purchased either at a U.S. Post Office, USPS.com or a reputable vendor." Products offered for a significantly lower price than actual value should be considered suspicious. Manufacturing and peddling fake postage is a federal crime.