DES MOINES, Iowa — The Members Group, the card processing CUSO affiliated with the Iowa Credit Union League has joined the list of card processing organizations to move away from using faxes and into using e-mail for fraud notification.
When fraud occurs, an e-mail notification will be sent to the credit union affected. The credit union can access a report giving them information regarding the accounts involved in the compromise, including type of fraud and history of fraud with the account. Credit unions will also be able to export the report to Excel for sorting and management ease. Along with the enhancement of the compromised account management system, TMG is working on a process to electronically submit closed fraud case documentation to allow for ease of storage and file retention, the CUSO said.
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