GRAND RAPIDS, Mich. (6/25/09)--When credit and debit cards are compromised, credit unions are faced with numerous struggles. CU*Answers, a credit union service organization (CUSO) based in Grand Rapids, Mich., has provided a list of tips credit unions can follow to prevent problems if a data breach occurs. CU*Answers suggests that credit unions:
* Push their credit and debit vendor for automated solutions--There might be tools and options of which they are unaware; * Get a compromised card list electronically--An electronic version of a list of compromised card numbers is often available from a card vendor, instead of a fax; and * Review options for fraud detection--Take advantage of the way networks can monitor and flag potential fraud.
CU*Answers also noted that if provided a list of compromised card numbers, it can compare it against the credit union’s ATM, debit or online card database and return a report and database file of matching member accounts. The list can then be used with CU*Answers’ CU*BASE tools, including List Generator, Query or Member Connect. CU*Answers offers credit unions online banking, member check processing and direct deposit processing services.