Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CUs find uptick in card fraud
HIGHTSTOWN, N.J. (5/12/11)--Credit unions nationwide have experienced an increase in card fraud within the past few weeks (New Jersey Credit Union League The Daily Exchange May 2), according to CUNA Mutual Group. The fraudulent transactions are occurring both within and outside of the U.S. with Visa and MasterCard credit and debit cards. Several exchanges have taken place with card processors and the card associations in an attempt to determine the common point of purchase (CPP). To effectively mitigate losses, it is vital to determine the CPP, which is the location where the member’s card may have been compromised. CUNA Mutual Group is seeking the cooperation of credit unions by working together with their card processors and the card associations to help pinpoint the CPPs. The losses involve “card present” transactions (magnetic stripe, signature-based fraud). This may involve a system intrusion rather than skimming, according to CUNA Mutual.
Other Resources

RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
1 Day ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
1 Day ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
1 Day ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
1 Day ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
1 Day ago