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Most Consumers Satisfied With How FIs Handle Account Fraud

New survey also says CUs can be more proactive when identifying and notifying members about potential fraud.

By Peter Strozniak | Updated on October 27, 2017

While 15% of U.S. consumers spotted fraudulent activity on their accounts last year, 85% said they were satisfied with how their credit union or bank handled the incident, according to a new survey commissioned by the Ottawa, Canada-based March Networks.

The online survey of 1,000 credit union and bank consumers also found that 60% of consumers noticed a fraudulent transaction before their financial institution. This may open an opportunity for credit unions and banks to be more proactive when it comes to identifying and notifying their members and customers about potential fraud, according to March Networks, a provider of intelligent IP video solutions.

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Peter Strozniak

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