8 steps to achieving the security ‘trifecta’

Credit unions can win big with bets on these three main ingredients of a robust protection strategy.

Increasing security, reducing fraud and minimizing risk are the three main ingredients of a strong and robust security strategy. But how can credit unions achieve this trifecta of protection?

The basic tools and methods of increasing security must be supported by a dedicated and committed organizational mindset to expand beyond the basics of “just enough” security. Fraudsters’ constantly advancing techniques and eye toward exploiting each new opportunity are the enemy of a good security strategy. The only guard is constant vigilance.

A strategic approach to the 24/7 battle to increase security, reduce fraud and minimize risk should include at least the following eight points:

1. Build a strong overall organization security system. It’s been said often in sports that “Good defense wins championships.” It’s perhaps the essence of security.

2. Mitigate fraud with clear processes and procedures. If security efforts have both allies and foes, confusion over what to do is surely a foe.

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