There are a higher than usual number of suspected fraud cases involving credit union member accounts recently. These cases relate to both incoming and outgoing payments to and from credit union member accounts.
In order to reduce the instances of fraud, we would like to remind members to be aware of the online scams that are happening more and more frequently. Before you send a payment you should double check all details because once that payment is sent, it is irrevocable.
In addition, there are increasing levels of fraud for all cross-border payments. Lately, there have been a number of fraudulent incidents involving payments to banks in the UK in particular.
While we can request a recall of outgoing payments (under certain circumstances) it is usually the case that there are no funds left in the recipient’s account to recall.
Please take the time to be aware of the scams that are out there and check out www.fraudsmart.ie for more information!