Co-Op Financial Services launches card-fraud report

Co-Op Financial Services launches card-fraud report
Tags: Bank / Credit Union, EFT Networks, North America, Other, Security
February 5, 2007

ONTARIO, Calif. - Co-Op Financial Services has announced the launch of its "Compromised Card Activity" report - a report that helps card-issuing credit unions review activity for at-risk card numbers identified through Visa CAMS or MasterCard Alerts. The report, which is password-protected, is available on Co-Op's Website.

"This report reduces fraud-monitoring time because a credit union no longer has to sort through all of its issued card numbers to find the red flags," said Stan Hollen, chief executive of Co-Op Financial Services. "Now the only concern is to determine the severity of the fraud associated with the compromised cards and utilize this information to establish a block and reissue policy specific to each event."