PLEASANTON, Calif.-Javelin Research's "6th Annual Card Issuers Safety Scorecard" offered these tips for boosting the CU's fraud safety score:
• Prohibit the use of full Social Security numbers for authentication puposes. Use only last four digits or personal knowledge-based authentication.
• Automatically enroll members in most relevant fraud alert offerings, such as password changes or new users.
• Offer SMS alerts and especially emphasize new user alerts, which are the number one way criminals are taking over accounts today.
• Offer more in depth credit and account monitoring features to allow members to self-monitor fraud attempts.
• Incorporate zero-liability for ATM PIN fraud with no strings attached. Also offer identity theft insurance products and provide a way to give victims faster access to funds with 24-hour reversals.
