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Credit Unions, CUSOs Fighting Fraudsters

PYMNTS

Fraudsters are finding increasingly sophisticated ways to beat the system to commit financial fraud, however,” including big spikes in phishing attempts. ” Phishing, Smishing and the Value of Education . “Advances in payments technologies are making consumer transactions more secure,” the report states.

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Taking A Data-Driven Approach To Meeting CU Members’ Banking Needs

PYMNTS

CUs are seeing an increased number of phishing emails and overall digital fraud since the pandemic started, with 22 percent of American consumers reporting they have been targeted by virus-related online fraud, according to one survey.

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Credit Unions Doing Cyber-Battle

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Reading the February 2020 Credit Union Tracker ® done in collaboration with PSCU , we discover that Canadian credit union Desjardins Group was hacked , impacting the records of 4.2 The government is holding feet to the fire over cybersecurity, and credit unions are expected to have the same protections as any bank.