American 1 also offers mobile wallets ― Apple Pay, Samsung Pay, Android Pay ― which use tokenization and are a safer alternative to credit and debit cards. We’re developing our own educational program on the benefits of using mobile wallets.
Please describe the credit union’s “people” work against fraud, for example, training and raising awareness.
Amy Nichols, Payment Systems Manager, American 1 Credit Union
AN: American 1 takes an integrated approach to fight against fraud. We work diligently to keep not only our staff but also our members educated.
We have a team that is specially trained to spot fraud trends. In addition, we train all staff members in their first few weeks of employment on how to protect our members against fraud.
We also have an internal webpage that staffers can access at any time that includes information about the latest fraud scams. This keeps our team constantly informed and educated on the topic.
American 1 has been a community leader when it comes to education around fraud. Our newsletter includes a fraud corner that educates members on current fraud events. And we use our website and blog to educate members and the community.
American 1 Credit Union publishes a blog that mixes community and credit union news with advice on PIN security and news about breaches at major merchants. Click here to read “Choosing A Secure Pin.”
Who takes the training? Who conducts it? How often? What does it entail?
How Does The Credit Union Do It?
American 1’s card processor is FIS through Card Services for Credit Unions, which also provides the Falcon alert system. The credit union’s core processor is Symitar. Find your next solution in the Buyer’s Guide at CreditUnions.com.
AN: Our cards processor hosts a monthly fraud webinar that our team of fraud specialists attends on a regular basis. Our internal Payment Systems team regularly visits our branches to discuss fraud topics that range from retail store card breaches to local scams that are taking place in our communities.
What does the credit union do when it detects a problem?
AN: American 1 takes a proactive approach. The moment we begin to see card disputes, our team looks for a common purchase point. In doing so, we’ve detected multiple sources of compromises and contacted the local authorities to investigate further.
Also read: How An Alabama Credit Union Took Down A Skimmer
Please describe your relationship with other stakeholders in the fight against fraud.
AN: American 1 has joined forces with different groups — including credit unions, banks, law enforcement, and, at times, the Secret Service and the IRS — that meet regularly to discuss fraud. Sharing information has not only helped protect American 1 from losses but also has helped us all come together to fight fraud and protect our community.
Bottom line: What’s your best single piece of advice to fight against fraud?
AN: Education is key. Educate staff, membership, and the community on how they can protect themselves.