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Sharing to protect credit unions and members

ORLANDO, Fla. - Credit unions need to pay attention to the fraud challenges faced by competitors. That was the overriding theme of this year's National Conference on Credit Union Fraud and Loss Prevention sponsored by Madison, Wisconsin-based Loescher & Associates, which specializes in credit union fraud and loss prevention. Today's...

By Myriam DiGiovanni | Updated on August 14, 2001

ORLANDO, Fla. – Credit unions need to pay attention to the fraud challenges faced by competitors. That was the overriding theme of this year’s National Conference on Credit Union Fraud and Loss Prevention sponsored by Madison, Wisconsin-based Loescher & Associates, which specializes in credit union fraud and loss prevention. Today’s criminal is more tech-savvy and fraud is increasing across all areas from checks and credit cards, to insurance and intellectual property. According to Utica College Director of Crime Programs Dr. George Curtis, the Internet has fostered the growth of borderless crimes; organized crime and confused international enforcement issues. “Economic crime is on the rise, but a lot of it still isn’t being reported due to either the fear of negative publicity or being unaware that an incident can be reported,” said Curtis. The key to lowering fraud exposure is sharing information not only with banks and government agencies like the FBI but also the National Fraud Center, Internet Fraud Council and the Economic Crime Investigation Institute, to name just a few. [email protected]

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