Bad actors revel in hard times

Recommit to these eight fraud security measures as your credit union’s operations shift to remote delivery.

Here’s a scenario that may become more common as credit unions deploy remote workers as part of their COVID-19 pandemic response: A scammer looks up CU employees on LinkedIn and then calls the IT help desk using their name and title with a request. “I’m working from home,” says the scammer, “but I don’t have my work computer, and I need to log in to the network.”

“Typically the IT person would say no, but in this time of stress, they’re trying to help people move quickly,” says Paul Love, chief information security and privacy officer with CUES Supplier member CO-OP Financial Services, Rancho Cucamonga, California. “Now is the time to emphasize to tech staff the critical importance of following procedures in authenticating users. That extra minute they take, while it doesn’t allow them to move to the next caller quickly, will protect their organization from an attack.”

Even as credit unions take steps to keep members and employees safe by adhering to pandemic directives, the bad guys continue to test fraud defenses. Revisit these best practices with staff across the organization to underscore the need to stay vigilant:


continue reading »