CU*Answers, the West-Michigan based cooperative CUSO, offers a free fraud detection service that detects potential fraudulent activity over all scheduled bill pay transactions. FraudNet™ is offered through Fiserv, one of CU*Answers’ bill pay vendors, and detects suspicious activity prior to it happening and stops the transaction before it is scheduled to post.

“In June, FraudNet helped to detect over $200,000 in potential fraudulent activity, of which over $50,000 was confirmed as fraud for our clients,” stated Kasey Woodhead, CU*Answers representative. Kasey, a member of the CU*Answers SettleMINT team, is one of the individuals responsible for monitoring FraudNet and alerting clients of suspicious activity on their members’ accounts.

The CU*Answers SettleMINT team handles all EFT related products, including ATM, debit & credit cards, instant issue cards, bill pay, compromised card support and shared branching. SettleMINT also offers consulting to help their credit union clients maximize their investment in EFT products and features.