UICCU Slashes Card Fraud by 16%
Score one for the good guys in the never ending war against credit card fraudsters. That is because, using slick tools provided by Des Moines, Iowa-based The Members Group, the $1.5 billion University of Iowa Community Credit Union has announced a 16% drop in credit card fraud during 2011.
In a statement, UICCU also said it had “achieved significant per-case decreases in 2011 as compared to 2010. Year over year, the credit union has seen a 27% reduction in gross fraud per case and a 41% reduction in fraud write-offs per case.”