BECU Gets Instant Internet Fraud Alerts
TUKWILA, Wash. – BECU has signed on to a new Internet Fraud Alert program being offered by Internet Identity in partnership with the National Cyber-Forensics and Training Alliance.
As part of the partnership, Internet Identity will contribute malicious activity data to Internet Fraud Alert, and Internet Identity will assist existing IID ActiveControl customers in joining the network at no extra fee to receive the latest alerts about compromised credential activity.
“Our participation in the Internet Fraud Alert program with IID is a continuation of our commitment to our members’ security and will further enhance BECU's ability to protect our members,” said Ken Kinloch, information protection officer for the $9 billion credit union.
Internet Fraud Alert was recently developed by Microsoft and the NCFTA – a nonprofit whose mission is to identify, mitigate and neutralize cyber crime threats in partnership with the private sector, law enforcement agencies, academics and other groups. The alert enables reporting of suspected online fraudulent activity and offers a trusted and effective means of alerting service providers, retailers, financial institutions, social networking companies, government entities and more about compromised account credentials helping to diminish losses due to fraud.
Once stolen data is reported, Internet Fraud Alert will match it to the institution that manages the account in question, sending a secure alert to the appropriate parties, who can then take action to protect their customers and mitigate the potential for future fraud or financial losses.