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An Anti-Fraud Effort Quickly Pays Off

Elements Financial Credit Union hired its first full-time fraud investigator last September in an effort to thwart socially engineered schemes waged against call centers as well as debit fraud linked to card breaches, says Chris Sibila, executive vice president of payments and technology at the $1.3 billion institution based in Indianapolis. And the new position has already more than paid for itself by ensuring the credit union is catching and stopping fraud sooner, Sibila says in an interview with Information Security Media Group conducted at CO-OP Financial Services’ recent THINK 17 conference in New York.

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