Credit unions have a new resource to educate their members about frauds, scams and cyber threats with the NCUA's release Wednesday of a two-part video on how to recognize, avoid and report cyber fraud.
“We all must contribute to protecting the broader credit union system,” NCUA Board Chairman Debbie Matz said. “Ongoing member education on topics such as detecting, avoiding and preventing fraud not only protects a credit union's reputation, but it also helps members maintain their financial well-being. I encourage all credit unions to use these new videos when educating their members about protecting their finances and fighting cybercrime.”
Available on the NCUA's YouTube channel, the videos are part of NCUA's Consumer Report series developed by the Office of Consumer Protection.
Part one explains on how fraudsters initiate contact with consumers and how to detect and prevent fraud. Part two provides helpful preventative techniques to assist consumers in identifying and combating different types of frauds, scams and cyber threats. Additionally, part two outlines steps for reporting fraud and provides a brief introduction to EMV (Europay, MasterCard, Visa) technology designed to make point-of-sale transactions safer.
NCUA supports credit unions and their members with free financial literacy and consumer protection resources available at MyCreditUnion.gov. NCUA also provides up-to-date financial education information on the agency's YouTube, Facebook and consumer Twitter feeds.
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