War on Scammers Escalates at Boeing Employees CU
When it comes to stopping fraud, the $9.6 billion Boeing Employees Credit Union is trying to stay two steps ahead of scammers attempting suspicious transactions.
It is critical to have the ability to stop crime in real time, said John Snodgrass, security risk manager and Bank Secrecy Act and anti-money laundering compliance officer at the Tukwila, Wash.-based credit union.
BECU worked with CO-OP on different scenarios to determine how much would be saved at different score levels. Snodgrass said the member impact of it all was nothing and in the end, that coupled with the savings. resulted in the best strategy to combat fraud.
CO-OP has 22 national relationship managers who meet with credit unions and identify ways to improve operational efficiencies in their relationship with the CUSO, said Eric Porter, executive vice president of business development and marketing at CO-OP.