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Posted: Jun 21, 2017
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Author: Lou Grilli

Virtual cards provide members with a temporary card number for secure online shopping.

[Editor's Note: This article was previously published on CUInsight.com and has been modified.] 

It’s well known that as chip cards and chip card readers are putting a big dent in fraud conducted at the point-of-sale (counterfeit fraud), the bad guys are shifting their efforts to committing fraud online. E-commerce fraud (52%) clearly outweighs swiped fraud (28%) on credit cards, with debit card fraud still experiencing swiped fraud since not as many debit cards have been reissued with chips – that will change by the end of this year. Meanwhile, ecommerce breaches are popping up in the news with increasing frequency.

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Posted: Jun 8, 2017
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Author: Paul Castner

Google's Loren Hudziak says look at what's possible and then go beyond that.

“To make technological break-throughs, we need to reconstruct the mental model we have about technology. We can’t look at technology based on how it affects what we do, in our daily lives or in the credit union industry. There are concepts people have heard of, understand somewhat, but still view them through today’s lenses, instead of a view to the future.” Google Solutions Architect Loren Hudziak gave a historic example of this concept to the 350+ credit union attendees during the 2017 CSCU annual conference.
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Posted: May 31, 2017
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Author: Paul Castner

Bob Legters, FIS Chief Product Officer, presents his ideas at CSCU’s 2017 Annual Conference.

“When people think about types of payments, they generally view their money in two buckets – the money they have, including dollars in debit accounts, savings, investments, even rewards points, and the money they don’t have, including the money they can borrow or leverage plus access to other people’s money.” That is one of the thought-provoking concepts proffered by FIS Chief Product Officer, Bob Legters, at CSCU’s 2017 Annual Conference.
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Posted: May 30, 2017
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Declining authorizations may have unintended negative consequences on your members.

Some credit unions are declining authorization for Facebook payments due to the relatively high number of fraud cases being reported for that merchant category code. But declining these authorizations may have unintended negative consequences on your members. Here’s why.

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Posted: May 25, 2017
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Author: Lou Grilli

Data thieves turn to Bluetooth technology at the gas pump.

Going old school for a moment to copy an expression used by Maxwell Smart, Agent 86 for Control, who ended most shows by lamenting about the bad guys: “If only they had used their powers for good instead of evil”. And so it goes in the case of the internet of things.

Skimmers have been a source of breached credit and debit cards since before 2010. Primitive skimmers were bulky and unreliable. Later skimmers that were inserted behind the cover of the gas pump or the ATM were not easily detected. Having security tape with a warning “Please report any broken seals to the cashier“ puts the burden on the customer to be wary of, and alert for skimmers, and put a damper on the rapid growth of skimmers at the pump – that is, until the internet of things came into popularity.

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