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CLOSED Monday, Closing or delay due to weather? Check WFMZ:
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Debit Card Fraud MonitoredBethlehem Teachers Federal Credit Union has discovered that some members' debit cards were used fraudulently in the states of Florida and Texas. The fraud, which occurred recently, is now under investigation by law enforcement agencies. It is apparently part of a nationwide problem involving VISA and MasterCard credit and debit check cards across the United States. Though the dollar amount of fraud that has occurred up to this point is unknown, the Credit Union is taking aggressive action to prevent further loss. According to a report released by the CUNA Mutal Group, an insurance provider to credit unions and their members, exchanges have taken place with card processors and the card associations to determine "common point of purchase" (CPP). Though the source of the fraud has not yet been identified, the incidents of fraud are affecting cardholders from financial institutions nationwide. "In cases of fraudulent activity involving VISA debit cards, members do not realize any loss of funds," said Valerie J. Walk, President and CEO of the Credit Union. VISA employs a Zero Liability Policy which guarantees that cardholders won't be held responsible for fraudulent charges made with the card. The Credit Union uses technology to proactively monitor possible fraud. Using these systems, we have the ability to define parameters which help protect members without causing them further inconvenience. As a result of recent activity, we have taken measures to limit future losses. |
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Copyright © 1999-2013 Bethlehem Teachers Federal Credit Union. |
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