NCUA issues alert on business email compromise fraud

25542495_1752115101518706_2887136597949032630_oNCUA Chairman Rodney Hood released a risk alert that describes the increasing frequency of and losses related to business email compromise fraud schemes.

Hood noted that credit unions can take steps to prevent this type of fraud and should report it to the FBI’s Internet Crime Complaint Center. Credit unions that report incidents to the Internet Crime Complaint Center increase their opportunity to recover funds that have been wired under fraudulent pretenses, the alert said.

To view the entire risk alert message, visit NCUA’s website.

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