An enterprise approach is needed to combat the growing threat of fraud against credit unions, according to a CUNA Mutual risk management expert.
A "silo monitoring" approach within each product area of a credit union no longer works, Ann Davidson, senior risk management consultant, told a breakout audience on Wednesday at the America's Credit Union Conference in San Antonio.
Taking an enterprise fraud management approach enables a credit union to coordinate detection and prevention across the "entire business enterprise and it establishes a framework for enterprise-wide deployment of fraud resources," Davidson said.
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