Credit Union Holds Event to Further Raise Employees' Fraud Awareness, Help Protect Members' Financial Assets
Harrisburg, PA - November 27, 2017 - International Fraud Awareness Week, dedicated to promoting awareness, detection, and prevention of fraud, was held from November 12-18. In recognition of this important observation, PSECU, Pennsylvania's largest credit union, celebrated its annual Fraud Fair for employees on November 16 at its headquarters in Harrisburg.
"As credit union employees, we may be the first to notice that a member is unknowingly involved in fraudulent activity. This could be anything from identity theft to a romance scam that attempts to lure an individual into sending funds to a fraudster posing as a dream boyfriend or girlfriend," said PSECU President Greg Smith. "It can also include fraudulent activity that aims to scam the credit union out of large sums of money by, for example, targeting students to sell their debit cards and/or account credentials to deposit stolen or fictitious checks. Regardless of the type of fraud or who it exploits, it is important that our employees know what fraud warning signs to look for and how to stop any harmful acts quickly."
Hosted each year by the credit union's Loss Prevention & Security (LP&S) unit, PSECU's Fraud Fair event provides employees with an opportunity to learn more about different types of fraud and how fraud risks can be reduced in an effort to protect members and their financial assets. This year's theme was the "Fraud Lifecycle," which highlighted fraud activity through a full spectrum of age groups. Topics included childhood identity theft, card cracking, romance scams, social engineering, and elder financial exploitation, among others.
The event included featured exhibitors from across the organization, including Plastic Card Fraud, Information Security, eCommerce, Anti-Money Laundering, and Financial Education. External vendors and partners, including the Federal Bureau of Investigation (FBI), Lower Paxton Police Department, the Pennsylvania Attorney General's Office, the Pennsylvania Office of Inspector General, and the U.S. Postal Inspection Service, also contributed to the event.
"The support and collaboration of external partners and vendors is essential to the success of our annual Fraud Fair," said Smith. "We take comfort in knowing that the network of organizations working together to combat fraud and raise awareness of its risks is strongly dedicated and focused on the importance of the tasks at hand. We thank them all for being a part of increasing our employees' fraud knowledge and preparedness."
More than 850 PSECU employees were encouraged to attend the event and participate in the learning activities to further prepare them to serve the credit union's more than 430,000 members in Pennsylvania and beyond.
Opened in 1934, PSECU was founded by 22 ordinary people who made an extraordinary commitment to each other: To create a financial institution where pooled resources benefit all members. Today, we are a full-service credit union serving more than 430,000 members and have over $5 billion in assets. As a not-for-profit financial institution, our goal remains to help our members and their families achieve a better life. For more information about PSECU, visit psecu.com. View our Community Report Card to learn how we contribute to the greater good.