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Technology companies are supplying them with the products and services their members desire, working with both individual CUs and creditunionserviceorganizations (CUSOs) to develop case management platforms, modernize systems and provide advanced loan software. CUs are of particular interest to the U.S.
The greatest risk to creditunions and CUSOs today is the loss of your members’ trust and financial safety. Understanding your cyber risk is a critical part of protecting yourself and your members. Why is cyber scoring the next big idea for creditunions? Can your institution survive a cyber breach?
The creditunionserviceorganization (CUSO) said it blocked cybercriminals at several channel intersections, including at the point of sale, at its contact centers and other avenues. PSCU has prevented over $277 million in would-be fraud last year, 30 percent more than in 2018.
In the March CreditUnion Tracker , PYMNTS explores how creditunions (CUs) and creditunionserviceorganizations (CUSOs) are working to cater to the unique financial needs of their members, while also focusing on continually combating fraud. Around the CreditUnion Landscape.
With strong data and analytics capabilities, PSCU is equipped with the tools to forecast impacts and help our creditunions to plan ahead as much as possible. When it comes to cybersecurity and fraud protection, it is critical to have monitoring tools in place to manage both internal and external fraud detection.
According to reports from cybersecurity expert Brian Krebs, first news of the breach came via a CreditUnionServiceOrganization (CUSO) called PSCU, which sent out a non-public alert to the 800 creditunion member banks it serves advising that it had received a list of compromised card numbers from Mastercard and Visa.
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