The West-Michigan based cooperative CUSO, CU*Answers, offers a free fraud detection service through one of thier bill pay vendors.  FraudNet is fraud prevention software that detects potential fraudulent activity over the bill pay scheduled transactions.  The great advantage of this system is that FraudNet is detecting suspicious activity prior to it happening and stopping the transaction before it is scheduled to post.

“In October and November alone, FraudNet detected $212,399 in confirmed fraud for our clients’ members,” stated Angel McConer SettleMINT EFT Representative. Angel is one of the SettleMINT Team members responsible for monitoring FraudNet, and alerting clients of suspicious activity on their member’s accounts.

CU*Answers SettleMINT Team is the one stop location for 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.