New Tool Should Help CUs Measure Card Fraud Risk
CUNA Mutual Group has released a new online tool that should help credit unions better measure their risk of credit and debit card fraud. The insurer said the tool should help its policy holders assess whether their card program is in a good, fair, or cautionary state of security.
"A credit union's operations could be severely impacted if its card portfolio or plastic card program were fraudulently attacked, especially if it resulted in uninsured losses," said Becky Severson, CUNA Mutual risk manager. "That's why we felt it was critical for CUNA Mutual to help credit unions identify their plastic card program vulnerabilities and recommend actions based on risk exposure and insurance considerations."