Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Study FIs identify fraud as top debit concern
DALLAS (8/19/10)--About 71% of financial institutions in the electronic payments industry identified fraud as their main concern related to debit cards, according to a recent SWACHA study. SWACHA, an electronic payments resource, commissioned a study among its members, which includes credit unions, to identify concerns associated with debit card use (Transactiondirectory.com Aug. 17). Nearly 43% of those surveyed said they spent up to 40 or more hours in 2009 dealing with fraud--specifically, with fraud from skimmers and data breaches. More than 19.2% of respondents spent up to $50,000 with the cases. SWACHA said it plans to offer additional educational resources to help its member financial institutions mitigate fraud risks.


RSS print
News Now LiveWire
.@CUNA VP of Econ MIke Schenk featured in Money magazine http://t.co/SC6Shv0lDH
15 hours ago
#NewsNow: @CFPB develops tools for student loan debt relief. http://t.co/a6pOReC86F
15 hours ago
Stephanie Smith has been named as the new executive director of America's #CreditUnion Museum. (2 of 2)
16 hours ago
America's #CreditUnion Museum executive director Peggy Powell is stepping down after 15 years. (1 of 2)
16 hours ago
#NewsNow League presidents raise voices for data breach protection http://t.co/zX1UsvsQP6
18 hours ago