The Growth in Fraud at Credit Unions Has Gone Parabolic And Members Are Highly Concerned
Last year, well over half of all financial institutions lost more than $500,000 to fraud. However, for the credit union industry, it was even worse.
Check Fraud Losses May Have Hit $34.4 Billion in 2022…
Fraud and risk teams at banks and credit unions have had enough. Since at least 2020, there’s been a parabolic increase in all forms of bank fraud, resulting in a drastic increase in mitigation [...]
The Cost of Debit Card Fraud To Banks and Credit Unions
Debit card fraud is a serious problem for financial institutions. Here’s what you need to know about its effects, and how AI can help with fraud detection.
$12 Million Fraudster Who Targeted Banks and Credit Unions Sentenced
Christopher A. Montalbano of Vestavia, AL, has been sentenced to 180 months (15 years) imprisonment for his role in a massive bank and credit union fraud scheme. In addition to his sentence, [...]