Callahan Clients, please log in for direct access to:
Learn What You're Missing
Upgrade Your Subscription
Thank you for your interest in reading the fantastic content we have on CreditUnions.com! However, the page you are trying to access is for subscribers-only. To learn more, select an option below.
All users must now log in to read, research, browse, and have fun on CreditUnions.com. Yes, we still offer freebies. And, yes, it’s worth the extra effort.
Print or PDF this article today because you won't have access to it later. Or, click here to learn how to get 24/7 access.
Consumers, law enforcement agencies, financial institutions and
retailers are all looking for answers to the compelling question:
"How do we get ahead of it?" "It" is the ongoing
challenge of fraud and identity theft. And it's a major and growing
Annual check fraud losses are estimated between $10 billion and
$20 billion. According to the American Bankers Association (ABA),
nearly 65 percent of fraudulent checks are drawn on consumer accounts.
Verisign Inc. reports an estimated $2 billion will be lost to credit
card fraud, and 1 in 6 online consumers has been the victim of credit
The Department of Justice reported in May that the Federal Trade
Commission received 263,000 fraud complaints in 2002 - nearly half
of which were Internet-related. Last year, the Internet Fraud Complaint
Center referred nearly 48,000 Internet-related fraud complaints
to law enforcement. The National Consumers League reports Internet
fraud losses in 2002 were nearly $7 million, up from $3 million
A criminal with your Social Security number, date of birth, driver's
license and mother's maiden name, can apply for credit, loans or
utility services in your name. According to the Federal Trade Commission's
Identity Theft Clearinghouse, typical types of identity theft are:
What can you do to protect your credit union members? Plenty, according
to guidelines that have been developed by the Financial Services
Roundtable, a trade group of large financial services providers,
including credit unions, banks and insurance companies, and BITS,
an association formed to promote consumer confidence and trust in
financial transactions through technology. CUNA has endorsed the
Fraud Reduction Guidelines, including:
An online fraud education module for credit unions is the latest
fraud-fighting strategy to be released by Liberty. The program was
developed with Liberty partner MyDAS Marketing. The module includes
testing and certification upon successful completion of the course.
The fraud education module adds to Liberty's already extensive arsenal
in the fight against fraud:
For more information, visit www.libertysite.com.
NOTE: Complete terms of EZShield are available on www.ezshield.net,
or by calling toll-free at 1.888.439.7453. EZShield is licensed
from and serviced by EZShield, Joppa, Md. EZShield is not affiliated
Liberty does not sell, solicit or negotiate insurance. The Personal
Identity Theft Protection Program is automatically included as a
benefit to Premier Pack purchasers. Please direct inquiries about
the terms and conditions o coverage to the AIG companies, toll-free,
October 27, 2003
7/26/2012 03:57 PM
Just an ad for Liberty products. Information common in the industry.
Most important issue.
Submit your email address to receive daily industry updates and web-only features.
P: (800) 446-7453 | F: (800) 878-4712
1001 Connecticut Ave. NW Suite 1001
Washington, DC 20036