Priorities, protection strategies tackled by Fraud Task Force

Credit union leaders from across the country addressed the latest credit union efforts and priorities to combat fraud Thursday during the America’s Credit Unions Fraud Task Force meeting.

The group shared methods they use to protect members from fraud and scams through education and technology.

In addition, Director of Innovation and Technology Andrew Morris highlighted the Federal Reserve’s ongoing survey on its FraudClassifier Model. The model was developed to help develop consistent fraud classifications for the entire financial services industry. 

Morris encouraged credit unions to take the survey to ensure it reflects the credit union perspective alongside banks and other financial services providers.

The group also reinforced the need for continued engagement with Congress, the administration, and regulators to empower credit unions to better fight fraud and scams.