Fraudsters are becoming more organized, sophisticated, and technologically advanced. They collaborate with other criminals by sharing information and the latest tools on the “dark web.”
In fact, these criminals have created a multi-billion dollar industry using disruptive technology to carry out fraud schemes. So, it seems natural that credit unions would look to innovative solutions to combat card fraud.
Consider three innovative ways to fight card fraud:
1. Biometric cards
Members already use biometrics (i.e., fingerprint recognition) to safeguard information stored on their phones, computers, and tablets. So why not use biometrics to keep their card information safe?
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