A CUNA Mutual risk management expert said an enterprise approach is needed to combat the growing threat of fraud against credit unions.

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 at the recent 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.