Key fraud drivers across the industry [Part 2]: Prevention methods

In the second part of this series, we’re focusing on key fraud prevention strategies for your credit union. We’ll discuss tips for institutions and members alike on keeping their data secure.

Key Takeaways:

  • [01:25] A member appreciates tight security but it doesn’t do us any good if the security is so tight that they can’t transact at their convenience. It is another opportunity for another robust data strategy that really sets you apart.
  • [08:01] One time passwords are very secure and can often compliment a very effective tool for step by verification validating someone is who they say they are.
  • [11:01] Multi-factor authentication is critically important. It is really important to get away from the static password that has been so universal for so long.

 

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