Last summer, Langley FCU Noticed An Alarming Spike In Member-To-Member Fraud.
Through social engineering, criminals exploited members’ trust to obtain their confidential information or money. The surge in fraudulent activity pushed Langley FCU’s leaders to re-evaluate their approach and take a more proactive approach to fraud mitigation. Although a fraud team was already in place, the creation of a dedicated fraud-mitigation council marked a game-changing shift in how they addressed internal communication and response times.
Join Mark Hutchinson, Langley FCU’s SVP of Enterprise Risk Management & Internal Audit and Mihaela McNeill, Director of BSA & Fraud, as they discuss the strategies behind forming this council and how it led to reduced fraud incidents. Learn their best practices, key takeaways, and practical steps that can strengthen your own credit union’s defenses against fraud.
- Why the credit union chose this approach – and how it paid off.
- How member satisfaction improved as fraud incidents declined.
- How the new council improved inter-departmental communications and decreased response times.
- Key lessons, best practices, and a sneak peek into the cooperative’s future plans.
Download the slide deck here: Link
