To Catch a Cyber Thief and Credit Unions

If someone robs a branch there is a very good chance it will be reported, the police will diligently try to catch the thief, and the thief will be caught.
Not true for cyberfraud. If someone attempts fraud against online banking, law enforcement has little theycan do, and the fraudster has virtually no risk of getting caught. The fraudster is either, “well that just paid for my next vacation. Wonder who I should target tomorrow for my new car” or, in the worst case, “darn it, I’ll grab a beer and try again tomorrow.”
It’s a no risk and high reward career. Of course it’s a growing problem.
In the absence of risk to the fraudster we are left trying to protect against hundreds of possible attacks and memberswho knowingly or unknowingly cooperate with the fraudster. But the fraudster only needs one weak link, and they can keep trying till they find it.
Law enforcement, even at the local level, needs to spend much more time and money getting smarter and faster about tracking down cyberfraud. And our industry needs to gather the forensics they need to find and arrest criminals.
will hardly happen anytime soon. In the meantime, strive for the best security, not sufficient security.