WASHINGTON, DC (April 20, 2026) |
The Defense Credit Union Council (DCUC) submitted a letter to leaders of the House Committee on Homeland Security, including the Subcommittees on Border Security and Enforcement and Cybersecurity and Infrastructure Protection, thanking them for convening the April 21 joint hearing on online scams, crypto fraud, and digital extortion.
Representing more than 200 defense-affiliated credit unions serving over 40 million members, DCUC voiced that servicemembers and military families are frequent targets of sophisticated fraud schemes. DCUC stressed that cyber-enabled fraud, including cryptocurrency scams, impersonation, and digital extortion, poses both a consumer protection and homeland security threat, with direct impacts on financial readiness and mission focus.
DCUC outlined five priorities for Congress:
- Strengthen “stop-the-loss” authorities to allow institutions to pause suspicious transactions and improve recovery efforts
- Expand public-private information sharing across financial, law enforcement, telecom, and cyber sectors
- Maintain strong AML/CFT and anti-fraud enforcement targeting criminal networks while supporting responsible innovation
- Reinforce communications safeguards to combat spoofing, robocalls, and impersonation scams at the source
- Invest in targeted fraud education and cyber-readiness for servicemembers, veterans, and seniors
DCUC also reiterated its willingness to serve as a resource to Congress, offering industry insight, data, and technical assistance to support effective policymaking.
“This hearing is both timely and necessary,” says Anthony Hernandez, DCUC President/CEO, Retired U.S. Air Force Colonel. “Defense credit unions are on the front lines of protecting military families from increasingly complex fraud threats. Strengthening coordination, enforcement, and prevention tools will be critical to staying ahead of these evolving risks.”