Fraud Prevention

Credit unions are doing everything they can to prevent fraud, including making significant investments in security and fraud mitigation technologies to protect their members from scams and identity theft. Despite this, the burden of fraud continues to rise, and credit unions cannot absorb fraud losses without limit. America’s Credit Unions is working to prevent any effort to expand financial institutions’ liability under the Electronic Fund Transfer Act (EFTA) and Regulation E. Policymakers should address the root causes of fraud, and increase available resources for law enforcement and consumer education on fraud and scam risks rather than enact legislation that would merely shift costs to credit unions.