Consumer loan fraud jumps 419% at credit unions in last decade
Smaller credit unions most at risk
Credit unions encounter consumer loan fraud at a much greater rate than other lenders, as all lenders look for solutions to limit fraud exposure. Credit unions had 15,432 consumer loans listed in suspicious activity reports (SAR) in 2023, a 418.9% increase over the last decade, according to the Financial Crimes Enforcement Network (FinCEN), a […]
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