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Hackers commit synthetic fraud using stolen data from breaches and digital attacks.

Credit unions have recently experienced a period of significant growth. But this also means increased risk. As some larger banks continue to receive negative press, credit unions have an opportunity to capture more members who are looking for alternatives to the big bank experience – but along with new members come fraudsters.

Two of the most significant fraud challenges facing credit unions today are the rise of synthetic identity fraud at account opening and the resurgence of account takeover fraud. Both of these scenarios pose technology, resourcing and friction challenges.

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