DCU Fraud Policy Overview: Debit/Credit Card Data Breaches
It can be overwhelming with endless reports of data breaches, cyber-attacks, and fraud. Here at Directions, we want to help you understand these data breaches as much as possible!
First and foremost, data breaches happen at the merchant/business level – not at your financial institution. Directions Credit Union has never experienced a data breach.
How data breaches occur
Businesses that accept credit/debit card payments are able to do so because they have a “system” that allows them to process your card payment. These “systems” store your payment card transaction information in an encrypted file for the purpose of records, verification, fraud claims, invoicing, etc.
A data breach occurs when these merchant “systems” are hacked. The goal of the hack is to decrypt and obtain the stored card data to generate counterfeit cards or make purchases online.
What Directions Credit Union does to protect its member’s cards
Directions Credit Union monitors debit and credit card activity and looks for unusual purchase behavior. If fraudulent activity is suspected you may receive a phone call from our fraud monitoring company asking you to verify a purchase.
DCU receives a list of card numbers affected when a merchant system is breached. We then send out notices to all members involved via email, online banking alerts or regular mail. This is why it’s so important to keep your account information current.
Directions may also need to temporarily block card access for certain stores or cities for your protection. Just in case, particularly if you are traveling, we recommend bringing multiple forms of payment.
Need a new card?
- Directions can print you a new debit card at any branch location with our instant issue debit card machine.
- A new Directions Visa Credit Card is sent via mail.
Who’s responsible for unauthorized purchases?
Directions Credit Union debit and credit cards come with Zero Fraud Liability which means you’re never responsible for unauthorized purchases.
Keeping your account safe
If you’ve heard about a data breach in the news and you’re concerned, we encourage you to review your statements on a regular basis for any transactions you don’t recognize. As long as your information is current, you will receive a notification if any of your cards are on a breach list. If you use online banking, it’s a good practice to review your messages and alerts regularly as well.
If you see a transaction you don’t recognize call our Card Services department and they can help you with the next steps in protection and recovery. But first, be sure to check with any other person using your account, and keep in mind some merchant names may appear slightly different on your statement than they do on your receipt.
Get your Directions account information via email or mobile text message with CUAlerts for all your Directions accounts. There’s the flexibility to customize alert type, frequency, and location for your convenience. To set up these alerts, sign in to online banking and/or our mobile banking app.
Directions Credit Union Card App
Turn your cards on and off instantly, set spending limits, defend against fraud, and activate alerts. All you need is your Directions’ Visa Credit and/or Debit card and an Apple or Android smartphone. Go to your app store and type “Directions Credit Union Card App” in the search bar to find and then download the app. After downloading, you will create a login with a password, enter your full card number and authentication information. Directions Credit Union Card App is user-friendly and should only take a few minutes to complete.
Still, have questions or want more information? Read our blog article DCU Fraud Quick Q&A: Debit/Credit Card Data Breaches.