Fraudsters don’t like personal financial management

first_imgIt’s sad to say, but the bad guys are winning.Earlier this year, the Federal Reserve of Minneapolis released a survey of 283 credit unions and banks, comparing account fraud in 2015 versus 2016. The result: 41% of financial institutions said fraud had actually increased. And it’s affecting smaller banks and credit unions the most.According to a study from LexisNexis Risk Solutions, credit unions spend $3 on every $1 of fraud. In its broadest sense, cybercrime is a $600 billion industry. But the harsh reality is that the financial institutions incur the biggest costs.But for credit unions specifically, there’s good news: you have an ally in defeating the bad guys. Your members. continue reading » 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more