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Two Credit Union’s Proactive Approach to Fighting Plastic Card Fraud

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By Jordan Grady

credit-card-fraudWe’re all familiar with the recent Target credit card breach that affected 120 million customers, but what about the more localized and lesser known breaches that occur daily all across the country? Some credit unions rely on a VISA CAMS alert or news story to notify them of a possible breach, but others stay one step ahead of the pack by identifying breaches before any fraud occurs.

This proactive approach to pinpointing cards at risk led One Nevada Credit Union to identify “eight local/regional data breaches or skimming cases in the last three years,” said the credit union’s Vice President, Lee Torres. “These breaches could have potentially affected hundreds of One Nevada Credit Union debit cards, for a cost savings of nearly $78,000.”

How did they manage to identify these breaches? One Nevada Credit Union implemented Advanced Fraud Solutions’ TrueCards™ as a part of their card management protocol.

This content is for CU BUSINESS eMagazine , Special Deal: 2 websites , and NEW! The Leadership Team Builder Group Subscription members only.
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