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New CUNA OpSS Council White Paper Discusses Fraud Trends
Wednesday, September 11, 2013 6:25 AM

Whether it’s a new scam or a new twist on an old scheme, fraud continues to increase as the avenues for perpetrating it expand. At the same time that phone, email, and other traditional pathways continue to be used, criminals now have an ever-expanding menu of fraud delivery options—from online and mobile banking to remote deposit capture.

Fraud complaints reported through the Consumer Sentinel Network increased from 325,519 in 2001, to 2,061,495 in 2012. Online fraud losses, in particular, increased 8.3 percent in 2012, according to the Federal Bureau of Investigation.  Why is fraud increasing at the same time the tools and methods for preventing and detecting it are expanding and improving?

A new white paper from the CUNA Operations Sales & Service Council, “Fraud Trends: New and Repurposed Scams and Schemes,” examines some of the trends and forces behind the continued uptick—including the ease of online access, the “new mafia,” and economic factors. Many fraudsters employ a “multichannel” approach—making first contacts with victims through one channel, and finishing off their crimes through another.

CUNA Council members are eligible to receive complimentary copies of this, and over 300 other white papers; non-Council members may purchase white papers for $50 per copy.

The paper is available online in the white paper section of