GREENSBORO, N.C. – A recent agreement with the North Carolina Bankers Association has helped credit unions here in their fight against fraud. The North Carolina Credit Union League is the latest member to join Fraud-Net, an online resource for financial service and law enforcement officials. “Fraud losses are at an all-time high and fraudulent activities are not limited to a particular type of financial institution – every financial services provider is being hit hard,” said North Carolina Bankers Association President/CEO Thad Woodard. Fraud-Net provides users with a secure platform to post and read alerts about criminal activities affecting financial institutions. Currently available in 12 states and Puerto Rico, with five more states scheduled to join, Fraud-Net originated in Florida. The North Carolina Bankers Association brought Fraud-Net to North Carolina in 2003. “We are enthusiastic about the potential for Fraud-Net to reduce the number of crimes against our credit unions and credit union members,” said NCCUL President John Radebaugh. “Identity thieves have gotten very clever in their approach to committing fraud, and this is a great way for us to fight fire with fire.” In January, NCCUL organized a risk management council to help credit unions network and build relationships with law enforcement in an effort to reduce fraud.

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