As an industry, we’ve made significant strides to reduce fraud and minimize the financial impact to consumers and businesses. Despite our efforts, criminals have continued to explore alternative avenues, new and old, to steal member information and use it for nefarious purposes.
It’s a constant search for the vulnerabilities within every credit union’s defenses. With so many technological advancements, many criminals have identified humans as the weakest link.
No matter how informed we are or how cautious we tend to be, we are all susceptible to fraud attacks—specifically phishing scams. As many of these scams become more sophisticated, it becomes difficult for members to differentiate legitimate communications from fraudulent ones.
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