MnCUN Convenes 2nd Annual Fraud Prevention Summit

Last week, the Minnesota Credit Union Network (MnCUN) convened the second annual Fraud Prevention Summit. Nearly 90 attendees from over 35 credit unions from across the state participated.

The event served to connect credit unions with law enforcement, regulatory, and service vendor representatives engaged to combat financial fraud from their respective areas of expertise.

This included expert presentations on emerging fraud trends, preventive and remediation resources, and small group discussions for attendees to share information and resources. Speakers included:

• Safe Senior Financial Protection Act: Lisa Lovering, Senior Financial Exploitation Investigator; MN Department of Commerce
• Fraud Prevention: Michael Burke, Senior Robbery and Crisis Management Consultant; SHAZAM
• Fraud Detection and Prevention Product Demos: ACUTE Technology Solutions, Optimize Cyber,  and Payrailz Fraud Monitor.
• ​Fraud Schemes: Tony Ofstead; Director/Chief Law Enforcement Officer; MN Commerce Fraud Bureau

"Fraud is a persistent and evolving threat for consumers, businesses and financial institutions. Credit unions are embracing a collaborative approach to prevent and address fraud with regulatory and law enforcement partners," said Mara Humphrey, President & CEO of MnCUN.

Join the MnCUN Fraud Task Force​

MnCUN is announcing the formation of credit union peer fraud taskforce to combat fraud proactively across Minnesota. The goal is to leverage resources and share information to cooperatively combat fraud more effectively.

What to expect:

• Quarterly Meetings: Share experiences, resources, and information to stay ahead of evolving forms of fraud.
• Collaboration: The group will regularly engage with law enforcement representatives and other relevant regulatory authorities. 
• Dedicated Minnesota Community Page: Post real-time questions and issues related to frauds and scams.
• Focus Areas: Protect credit union members, prevent Elder and Vulnerable Person Financial Exploitation and prevent harm to credit union operations.

Participation details:
Who Should Attend: Open to all credit union staff.
Cost: Free to attend

Dates and registration:
The task force will meet on the following dates from 2-3 p.m. via webinar. Follow the links for more information and to register:

• May 20th
• August 19th
• November 18th

With questions, please contact MnCUN Director of Engagement, Xiong Lee, by email.