Credit unions that informed members and replaced cards early are reporting few to no losses.
Just in time for the holidays, a major card data breach reminded credit unions just how vulnerable their debit and credit card programs remain to other institutions’ failures.
The breach, which reportedly involved the theft of mag stripe data, will have a significant impact on credit unions and members.
Financial transactions are increasingly happening in real time and so are the fraud attacks that naturally follow. To help fight that, CO-OP Financial Services is working this year to continue to move several hundred client credit unions to the real-time version of the widely used Falcon Fraud Manager neural network service...