The $679 million, Merritt Island, Fla.-based Launch Federal Credit Union is restricting PIN-less transactions totaling less than $50 following the discovery of fraud involving some of the credit union's debit cards, according to an alert on Launch FCU's website.
"It is suspected that the compromise was at a local merchant that we are currently trying to identify," the credit union, which runs a dozen branches, said in the alert. "In particular, our members in the Titusville and Merritt Island areas are being affected."
The notification revealed the stolen debit card numbers were primarily used to make purchases at Walmart stores and totaled $50 or less.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
