How to shield against shared branching fraud
How credit unions can combat shared branching fraud
Shared branching gives credit unions a far reach, even with a smaller, targeted brick-and-mortar market. But what doors can shared branching open up for the bad actors?
What is shared branch fraud?
Shared branch fraud occurs when cybercriminals use fake or stolen identity (from an employee or member) to bypass authentication layers. The bad actors then make unauthorized withdrawals at an acquirer credit union in your shared branch network.
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