Protecting Credit Union Members and Families from Fraud & Identity Theft with EverSafe's Howard Tischler and Liz Loewy

ATLANTIC CITY, N.J. – EverSafe's Co-Founder and COO, Liz Loewy, and CEO and Co-Founder, Howard Tischler, led a session Monday afternoon at the New Jersey Credit Union League (NJCUL)'s 84th Annual Meeting and Convention on protecting your credit union members and families from fraud.

EverSafe

The first sign of trouble in a person’s cognitive development is in the financial area, even if they seem fine in all other areas, said Loewy. Some examples include: suddenly not being able to take care of their finances, not realizing that someone is taking money from their account, missing checks or bank statements, etc. One in 5 seniors are financially abused – not necessarily by a crime – but could be fraudulent phishing calls, mail, emails, etc.

Everyone should have online access to their financial accounts, they said. It makes monitoring your account easy and also help you detect missing statements, fraudulent tax returns applications, fraudulent benefits applications, etc.

Data breaches don’t discriminate! Age doesn’t matter, chip cards or cash don’t make a difference. The fraudsters have patience and wait sometimes a few years before acting on the data they have stolen, They wait because when the breach occurs, everyone is on guard and watching the accounts closely. However, when things don’t happen immediately after the breach, complacency sets in – that’s what the criminals are waiting for.

Loewy and Tischler provided these steps to take to protect yourself and members from financial fraud and abuse:

  1. Recognize the warning signs;
  2. Collaborate with other organizations;
  3. Pay attention to suspicious activity in members’ accounts; and
  4. Ask questions to your members about anything suspicious.

EverSafe pulls credit data and analyzes the information for data breaches and possible fraud. It doesn’t use static alerts like other systems; it uses a learning system that changes and grows as the members’ activity changes, repeating accounts (utilities, etc.) changes, repetitive deposit changes, etc. They have negotiated a discounted rate for NJCUL members and a royalty commission to the credit unions who refer the product to their members. EverSafe also provides educational events for credit union members.

If anyone has any further questions, contact Howard Tischler at htischler@EverSafe.com, or by calling 888-575-3837 ext. 701, and/or Liz Loewy at eloewy@EverSafe.com, or by calling 888-575-3837 ext. 702.

Additional photos from NJCUL's 84th Annual Meeting and Convention can be found on the League's official Facebook page.

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