The rise of mobile and online financial transactions meets many customers' demands for convenience, they also introduce new risks - and with that a heightened sense of fraud mitigation.

Since its inception in 1954, America's Credit Union (ACU) has served civilian federal employees, veterans, active duty and reserve members of the armed forces and their families as a cooperative to their benefit.

"We have 70 years of experience at Joint Base Lewis-McChord, and we consistently work to grow our products, services and support for our members," said Philip Prothero, ACU President, in a recent article, and  "we are consistent in our commitment."

In today's financial and technological world, ACU's commitment to preventing fraud is unparalleled.

"ACU uses a layered approach to detect, prevent and protect our members from fraud," began Jen Lamont, ACU's BSA & Fraud Manager, "and our dedicated team of anti-fraud professionals who monitor activity with great care as well as fraud detection technology aid us in our mission to defend our members."

She cited an example of a non-member who wanted to cash a check. Noting that the check appeared to have been altered, ACU staff members professionally paused the interaction.

"The fraudster left the branch without the check and the identification he had presented," continued Lamont. "The police were contacted; the ID was turned over to them; and this is just one of the many examples of deterred fraud at ACU."

She emphasized that ACU uses sophisticated fraud detection technology to monitor activity that in turn alerts credit union personnel of abnormal activity.

But no matter how good ACU's fraud prevention solutions are - and they are very good - there is still no substitute for personal responsibility and knowledge.

"One of the more prevalent threats right now is phishing," explained Lamont. "Members are being contacted by fraudsters posing as legitimate companies or law enforcement agencies"

As such, these organizations try to convince individuals to give out personal information while also persuading them to withdraw cash and then deposit the funds into Bitcoin ATMs.

"These scams are perpetrated on fear," Lamont said. She went on to explain that fraudsters tell their victim(s) that if they do not act quickly, they will have a warrant issued for their arrest or something else of equal concern.

"Legitimate companies and law enforcement agencies will never ask you to withdraw cash and deposit the funds into a Bitcoin ATM," Lamont added. "Awareness is key."

While ACU members should be alert to telephone and email scams, credit card fraud remains an ongoing issue.

"Members need to monitor their accounts carefully; it is important to know that cards are safe to use, but just like anything, there is a risk," counseled Lamont.

To mitigate the risk of becoming a victim of a fraud, she suggests the following:

"Set up account alerts. Members should login to their online banking account. Then click on Messages & Alerts > Manage Alerts," she advised.

Lamont added that setting up alerts is easy to do and that it helps members stay vigilant and aware of anything happening in their accounts.

"If any member believes that they are the victim of fraud, they should contact ACU immediately," concluded Lamont. "We will guide you through any situation."

For more information or to report suspected fraud, call ACU  at (253) 964-3113.

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