Credit Unions Part of Florida Banking Anti-fraud Effort

TALLAHASSEE, Fla. – Over a dozen credit unions and close to 150 credit union contacts use Fraud-Net.com, a networking and communications effort sponsored by the Florida Bankers Association to help them thwart financial fraud, according to Rebecca Mccarley, media representative for the association. Fraud-Net.com’s over 1,000 financial institutions log in to report fraud or to get reports via e-mail or looking at the site, the association said. Florida banks lose roughly $100 million to fraud each year, according to published media reports. The association said financial institutions like using the site because it streamlines sharing information about fraud, a process that used to be cumbersome and time consuming. The site, which is password protected, allows financial institutions to share and receive alerts, including photos and still tape footage from security cameras, in up to 12 fraud categories.