Wednesday, February 8, 2017

Plastic Card Fraud: The Best Defense Tactics to Minimize Losses

By Robert Jarosinski

While many types of fraud impact financial institutions today, the growing concern over plastic card fraud is worth noting.

Credit unions aren’t strangers to this kind of fraud. And, with worldwide card fraud expected to increase 45 percent by the end of 2020, it’s time to take action.

As card fraud continues to evolve, credit unions must use the best defense tactics to minimize their losses. Some of these include:

  1. Implementing EMV.
  2. Building a strong organizational risk culture.
  3. Developing a keen awareness of risks and fraud tactics.
  4. Integrating consumer efforts.

Card fraud doesn’t discriminate by the size or location of the credit unions it affects. So, now is the time to better understand what you can do to avoid it.

To learn more about plastic card fraud, watch our on-demand webinar, titled “Card Fraud Trends Continue to Grow."* Robert Jarosinski, Sr. Consultant, Risk & Compliance Solutions, discusses insights and action steps to help mitigate the evolving plastic card fraud risk.

Interested in attending more of our 2017 Credit Union Protection Webinars? View the entire schedule here.

*Available exclusively to Bond policyholders, must sign into My Services