7 Authentication Strategies to Reduce Fraud

Read the full blog article on NAFCU Services Blog

Adopting sound authentication methods to verify a person’s identity makes it much harder for an individual to provide false credentials and perform fraud. Consider these authentication strategies to safeguard your credit union:

 

7 Authentication Strategies to Reduce Fraud graphic image. The seven strategies shown are setting up complex password requirements, requiring members to provide identifying information AND personal information, requiring multi-factor authentication for transaction requests, adopting machine learning authorization tools, adopting strong authentication layers for new account, loan, or card requests, leveraging two-factor authentication requirements, and educating members about the importance of creating complex passwords and opting into all available authentication measures.