Holiday fraud prevention shopping list

Transaction fraud continues to be a top risk for financial institutions across the country. We are back with our fraud expert and Allied Solutions Vice President of Risk Consulting, Ann Davidson. In today’s episode, we’ll discuss transaction risks and the fraud that comes with them.

Key Takeaways:

• [01:41] Members and credit unions should be aware of the increase in phishing during the holiday, the increase in the text messages going out, and then the phone call. They want your card number, account number, and some personal information to authenticate you as they move forward.
• [05:31] Don’t just focus on the elderly but all of your members. We are seeing it across the board. These bad actors are attacking anyone and everyone that will give them information.
• [10:00] Educate your members. Let them know this is happening and make sure they are signed up for text alerts, especially with their cards.