cryptocurrency and blockchain concept A new criminal target.

Credit unions are under constant pressure to prevent fraud, and the latest threat comes from the world of cryptocurrency and blockchain. For the newly initiated, crypto is digital currency designed to work as a medium of exchange – buying, selling and transferring – through a computer network. Crypto has been around for years and, despite recent news coverage to the contrary, it’s not going away. In fact, consumer research conducted by Fiserv indicated that 61% of Gen Z and millennial survey respondents want their bank or credit union to hold cryptocurrency.

And therein lies the risk associated with crypto and fraudsters who operate in this environment. Funding a crypto account requires users to link it to a sourcing account that requires a connection to a non-crypto financial instrument or account. In this case, that would be a credit union member’s account.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.