COLUMBUS, Ohio–Ohio’s credit unions have been hosting roundtable discussions with federal and local law enforcement and community stakeholders to discuss an increase in fraud and efforts to prevent residents from falling victim to financial scams.
According to the Ohio Credit Union League, the initiatives have attracted media attention across the Buckeye State.
“Area credit unions, community stakeholders, and federal officials met on Friday morning at Superior Credit Union for a roundtable discussion on the increase in fraud and efforts to prevent residents from falling victim to financial scams. The topic of fraud is an important discussion, as according to the Federal Trade Commission, consumers lost more than $12 billion to fraud in 2024, and Americans have lost a combined $8.5 billion to investment and imposter scams alone,” writes Scott Giebel for the Lima News, the league shared.
The OCUL noted that according to the Federal Trade Commission (FTC), consumers lost more than $12 billion to fraud in 2024, an increase of 25% from 2023. Americans lost a combined total of more than $8.5 billion to investment and imposter scams alone.
Statewide Coverage
Addition media coverage in the state has included:
Youngstown Business Journal: Local Credit Unions, Law Enforcement Address Rising Fraud
Those quoted included:
- Donna Luzier, fraud manager, Bank Secrecy Act officer for 717 Credit Union, who cited those statistics from the Federal Trade Commission to start a roundtable discussion that included leadership from local credit unions and law enforcement.
- “Fraud is just really knocking on almost every door, and we’re seeing new stuff all the time,” said Mike Kurish, CEO of the ASECU. “And I think one of the things we have realized is that the actors that we are trying to defend ourselves from are well educated, trained individuals who approach scamming individuals as a full-time job.”
- Kelly Reddy, business development manager from the Unity Catholic Federal Credit Union, said they see people who feel an urgent pressure to follow the scammer’s directions. Reddy said staff members are trained to provide a UCFCU member safety brochure whenever a request seems suspicious, making conversations about fraud easier.
- Mario Duvnjak, chief operation officer at Cardinal Credit Union, said they see a lot of ATM fraud and people attempting to get passcodes from their members. A major upgrade to the online banking platform requires multifactor authentication and warnings against giving out a personal code.
- Brittany Socie, assistant fraud manager at 717 Credit Union, said it is difficult when members are taking money out to purchase gift cards or to put into bitcoin machines, or when they are sending money by Venmo or Cash App, because the financial institution cannot get that money back for them.
WKBN-TV Youngstown: Local roundtable tackles spike in financial scams
Lima News: Superior Credit Union hosts fraud roundtable
The story noted that during the roundtable, members of Superior Credit Union, Millstream Area Credit Union, and Hancock Federal Credit Union spoke about the fraud they encountered, as well as members of law enforcement and representatives from Job and Family Services.
Those quoted included:
- “We are seeing a lot of tax fraud, where the individuals are receiving phone calls or emails regarding them owing tax money, and they are being told they are going to federal prison, that someone within their institution is involved in the scam, and that their money is not safe,” said Superior Credit Union employee Jessica Holliday. “They are also being told that they are being followed and watched, so if they do anything, they will be arrested.”
WLIO-TV Lima: Officials Warn of Urgency Tactics as Scams Cost Consumers $12 Billion
WKEF-TV Dayton: Miami Valley credit unions and police step up scam warnings as fraud increases
The story noted that representatives from Wright-Patt Credit Union, Day Air Credit Union, Firefighters & Company Federal Credit Union, River Valley Credit Union, and Universal 1 Credit Union hosted a roundtable in Beavercreek with local law enforcement and community leaders to discuss how to better protect people from fraud.
WHIO-TV Dayton: Local credit unions, law enforcement hold round table amid rise in fraud
The story cited credit unions, including Wright-Patt Credit Union, Day Air Credit Union, Firefighters & Company Federal Credit Union, River Valley Credit Union, and Universal 1 Credit Union, for hosting a roundtable discussion with local law enforcement and community stakeholders to discuss the increase in fraud and efforts to prevent residents from falling victim to financial scams.
Those quoted included:
- “Our main goal is to protect our members and keep our communities as safe as we can,” said Jason Frantz, Wright-Patt Credit Union.
- “It’s that trust piece with members, making sure they know they can trust us if they find themselves to be a victim of fraud,” said Lisa Schaefer, Universal 1 Credit Union.
- “Educating our members is hugely important. If someone is calling you from our credit union saying it’s extremely urgent, then you need to call a trusted source and make sure the information is legitimate. Anytime someone is trying to force urgency on a situation, it’s most likely fraud,” said Lori Tieman, Firefighters and Company Federal Credit Union.
- “Artificial intelligence is starting to look much more legitimate, so these scammers are getting harder to catch. We encourage members to slow down and bring it to their credit union if they have questions and seek an additional set of eyes,” said Daniel Koons, Day Air Credit Union.
- “We urge members to keep their passwords up-to-date and to keep their passwords varied and safe,” said Lydia Crandon, River Valley Credit Union.
