Fraud Prevention

Reduce your credit union's risk exposure and your members from identity theft and phishing exploits. Outsmart potential perpetrators, take heed of suspicious account activity, and follow other proactive measures to safeguard your members’ identity and your credit union’s intellectual property. Identity theft in the past five years has affected 27 million Americans – one-tenth of the U.S. population. Source: Credit Union Magazine. According to Forrester, more than half of all identity theft incidents occur in the banking industry, with about 33 percent from credit card fraud alone.

Products & Services / Training & Education / Consulting / Other Resources

Products & Services

Diebold
Because Diebold recognizes the value and importance of educating consumers against ATM fraud, the company recently unveiled a first-of-its-kind ATM security web site, specifically geared toward consumer safety. The site provides invaluable information about how ATM users can increase personal safety and avoid becoming victims of fraud. New Playing Defense: Trends in ATM Attacks Whitepaper

Liberty
Check fraud has become widespread, with averages of more than one bad check per second and more than 500 million forged checks per year. Harland helps you fight check fraud by including security features on each check. Features such as the micro-print line that distorts when photocopied or security links that react when chemically altered help reduce these crimes.

MoneyGram
Serious about security and compliance. Dedicated to the development of new programs and security features. MoneyGram maintains a proactive mindset with their official check and money order products which are designed to help deter fraudulent activity, such as counterfeiting and money laundering. Equipped with the latest anti-fraud and anti-money laundering features, MoneyGram official check and money order products are fully compliant with the Bank Secrecy Act, USA Patriot Act, and OFAC requirements.

Perimeter
The latest round of phishing emails, which target consumers and credit union members and prey on their fears of online safety and identity theft, are getting harder to determine their legitimacy. With phishing attacks increasing at a rate of 24 percent each month, credit unions have a new resource that will quickly discover and shut down these attacks and false web sites through Perimeter , a leading provider of managed network security services. When an attack is detected, your credit union will be quickly notified and provided with a well-defined incident management process to easily follow.

Trace Security
Two-factor authentication, which uses a challenge/response technology, is widely acknowledged by security experts as the best to eliminate the growing threat of Internet fraud and identity theft. TraceAuthenticate also helps credit unions comply with the FFIEC guidelines to have a plan for multi-factor authentication, layered security, or other controls to reduce exposure to Internet banking risks.

Verafin
The mandatory requirements to monitor, detect and report suspicious activity have created an overwhelming manual workload for credit unions that can be more adequately addressed through the use of technology. Verafin offers an all encompassing solution which automates BSA compliance reporting; detects suspicious activity and fraud; performs watch list checking and includes case management.

Training & Education

Achieve the confidence and success that comes with understanding and implementing effective security solutions. Learn from our expert trainers and consultants as they share best-practice security measures and in-depth knowledge of risk management, information security processes and policies, government regulations.

Books

• The USA Patriot Act Guidebook: Complying with the Member Identification Requirements.

Member Education

• Member Seminar Kits – ID Theft: Who’s Got Your Number?
• Online Web Content – Anytime Adviser/ID Theft: Protect Your Identity Coach

Self-Study Certificate Programs

• Merit – Security Administration
• Star – Preventing Fraud

On-site Programs

• CUNA Security & Fraud Institute: Introduction (Spring)
• CUNA Security & Fraud Institute: Advanced - New dates coming soon, check back
• CUNA Security & Fraud Institute: Introduction (Fall) - New dates coming soon, check back

Videos

• Technology Security: Targeting Cybercrime and Identity Theft

CPD Webinars

Drive-Up Envelopes

• Prevent Identity Theft
• Phishing: Don’t Take the Bait

Statement Stuffers

• What to Keep and What to Throw Away
• Good Habits Protect Your Plastic Cards Against Fraud
• ID Theft: How to Protect It and How to Get Over It
• Online Banking: Fast, Simple, Safe
• Phishing--Don't Take the Bait
• Smart Savers are Ready for Anything

Security Services Consulting

Protect your online assets, your network and your members by engaging experts to help you identify unique strengths and potential issues within your system. Approach your credit union’s security proactively and gain the most from a strategy utilizing technology – while minimizing security risks. For more information, click here.

Other Resources

Free Articles

• 12 Signs of Check Fraud
• 2007 Top Compliance Issues
• BSA Compliance: The Buck Stops Here
• Guard Against Debit Card Fraud
• ID Theft Tools Nip Fraud
• Preventing Identity Fraud in the Branch
• Remain vigilant to avoid plastic card losses, CUs told
• Security Acronyms &Terms
• SecurityMatters Newletter - Diebold's quarterly newsletter on fraud and security-related issues
• Spear phishing attacks savvy computer users
• Teens prime target for ID theft

All articles have been reprinted with permission.

Additional Resources

• Over the past year, Travelex has been working with the United States Postal Inspection Service on a Global Initiative involving the scams of the $500 cheques. Click here for more information.
• Consumer Fraud Resources
• FBI – Internet Fraud Complaint Center
• Federal Financial Institutions Examination Council (FFIEC)
• Federal Trade Commission: Your National Resource for Identity Theft
• Financial Crimes Enforcement Network (FinCEN)
• Identity Theft Resource Center
• NCUA
• Office of Forien Assets Control (OFAC)

To have a representative contact your credit union, call CUNA Member Service at 800-356-8010, press 3, 8:00 a.m. - 4:30 p.m.

Physical Security - Network Security - Business Continuity