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

“In August and September alone, FraudNet detected $228,404 in confirmed fraud for our clients’ members”, stated Angel McConer, the SettleMINT EFT Representative responsible for monitoring FraudNet and alerting clients of suspicious activity on their member’s accounts.

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.