Zach Douglass, Director of Bond & Risk Management | Allied Solutions
As Director of Bond & Risk Management, Zach Douglass provides risk management consultations to insured financial institutions to reduce losses. He provides on-site and virtual risk assessments as a value-added service to credit unions and presents solutions to reduce the probability of losses. Zach also creates resources for credit unions related to risk awareness and mitigation. Prior to joining Allied Solutions, Zach worked for a credit union in central Florida where he served in roles covering fraud, compliance, BSA/AML, legal, and security.
In this episode:
[01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone.
[04:31] Counterfeit US passport cards are just another new tool in the bad actors’ toolbox.
[07:21] Blocking the fallback is the only way to defeat counterfeit cards.
[11:17] The best way is constant education to your members in as many channels as you can.
[13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members.