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Overview
Check fraud isn't going away, and the people who practice the crime are getting better at it with each passing day. Identity and check fraud artists move indiscriminately from one financial institution to the next, inventing new and different scams. Their common ground is the ability to find a weakness in your fraud defenses. Today, they are growing in numbers and their methods are becoming more sophisticated, their scams more intricate.
That's why CUNA Mutual has a relationship with Early Warning Services, LLC to deliver an enhanced line of defense for credit unions against check and identity fraud. Early Warning is a recognized leader in the industry, and its suite solutions are the obvious choice for meeting the needs of credit unions of all sizes.
Early Warning's suite of services help identify and prevent fraud-related losses by focusing on identity authentication and deposit risk assessment. Additionally, these services can assist credit unions in meeting regulatory compliance obligations by checking OFAC and fulfilling key provisions of Section 326 of the USA PATRIOT Act by providing identity verification, record retention and screening against a list of government-designated suspicious individuals.
Advantages for your credit union:
- Reduce check fraud losses -- Early Warning's suite of services provide an effective and efficient way to identify and reduce check fraud loss at your credit union -- loss that can directly impact your credit union's bottom line.
- An integrated loss prevention solution -- Teamed with CUNA Mutual's risk management programs and front-line staff training, these services form a comprehensive level of protection for your credit union.
- A proven solution -- The CUNA Mutual/Early Warning relationship allows you to spend your time implementing a proven solution instead of conducting a tedious, time-consuming vendor search.
- Protection that pays for itself -- The Early Warning services have proven successful for the credit unions that currently use them, and return on investment ratios have been universally positive.
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