First, we start with the basics: prescribed filing services for large cash and wire transactions, a risk and compliance regime, suspicious transaction services, and bi-annual effectiveness reviews mandated by Fintrac. Once we help you put those in place, your Compliance Officers will be freed up to move onto the challenges of upcoming regulatory requirements. And there will be many.
The key to defeating fraud is to act fast and on good information. Central 1’s Fraud Solutions does just that, preventing losses nationally. We act as the liaison between Interac®, our online banking platform and financial institutions like yours to detect, alert, report and stop unusual online transactions. We also prevent attacks on the debit card/ATM system by monitoring transactions with a smart, rules-based system that works in the background.
Our Fraud Solutions team is everywhere, working on everything with a nationwide 24/7/365 loss prevention presence. We collect, analyze, and disseminate fraud intelligence from a variety of sources such as INTERAC®, RSA, CCIRC, law enforcement and other financial institutions to ensure the security of your debit and online banking transactions.
We take risks to your FI very seriously. That’s why Central 1 provides access to the kinds of insurance your business needs to fully protect itself. General, property, errors & omissions, and much more. Enjoy the kinds of high policy limits only Central 1 can negotiate because of its size and because we have you, and so many businesses like yours, as policy holders.
/Westoba Credit Union