2024 Mid-Year Fraud Review

About the Podcast

On this episode, Allied Solutions' Zach Douglass joins us to review this year's top fraud activities so far. Our discussion highlights account takeover attacks, stolen card data, phishing schemes, and litigation.

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Key Takeaways:

  • [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone.
  • [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox.
  • [07:21] Blocking the fallback is the only way to defeat counterfeit cards.
  • [11:17] The best way is constant education to your members in as many channels as you can.
  • [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members.

Presented By

Zach Douglass
Zach Douglass

Director of Bond & Risk Management  | Allied Solutions

As Director of Bond & Risk Management, Zach Douglass provides risk management consultations to insured financial institutions to reduce losses. He provides on-site and virtual risk assessments as a value-added service to credit unions and presents solutions to reduce the probability of losses. Zach also creates resources for credit unions related to risk awareness and mitigation. Prior to joining Allied Solutions, Zach worked for a credit union in central Florida where he served in roles covering fraud, compliance, BSA/AML, legal, and security.