Denise D. Tansey is the new security manager at People’s Credit Union, Rhode Island’s third largest credit union. These days, security for financial institutions – even small ones such as People’s – is much more than a guard in the branch lobby. Tansey recently answered five questions about the ever-changing field of security.
PBN: I think of security at a financial institution being the guard in the branch lobby. But aside from robberies, what other types of security issues do you oversee at the credit union?
TANSEY: As the security manager for People’s Credit Union, I am responsible for the physical protection and security of the credit union’s property and assets. It is my responsibility to facilitate a security program that will assist employees and members with the information necessary to detect and prevent fraud and to protect their assets against crime and other hazards.
To allow for a safe banking environment, appropriate security systems and devices have been selected and put into place. Security-related training programs have been developed and implemented at the credit union that allow our employees to be knowledgeable in all aspects of fraud. Some types of fraud issues that I deal with on a day-to-day basis include check fraud, debit card fraud, ATM fraud, identity theft, loan and mortgage fraud, new account fraud, lottery scams and Internet scams.
PBN: How has the field of bank security changed over the years, particularly since you began your career? Has it changed much?
TANSEY: I began my career in bank security in the mid ’90s, at that time check fraud was most prevalent. The arena of fraud has changed considerably since then. Today, identity theft has become an increasing problem and concern for companies and consumers across the country. In fact, there are approximately 10 million people who are victims of identity theft per year…
Technology advances have created more problems in the field of bank security. With the advancement of technology, the fraud schemes will only broaden.
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PBN: Do small banks and credit unions need to be even more vigilant about security than a Bank of America or Citizens Bank in some ways?
TANSEY: We are all targets, large or small. We all need to be vigilant in trying to detect and prevent fraud. Even the smallest institutions have processes in place to assist with this endeavor. Keeping abreast of fraud trends is key. All institutions need to make their staff aware of these trends by providing training on a routine basis. Networking with others in the security field to share the most current trends and how we can combat fraud is extremely important, as well.
PBN: I have been told by other security officers that customers can be their own worst enemy when it comes to online security. What can members do to improve credit union security themselves, both online and in the branches?
TANSEY: Everyday con artists and scammers attempt to victimize millions of American consumers. When they succeed, these crimes can seriously affect the lives of their victims, their families and ultimately each and every one of us.
Members can avoid becoming a victim of online fraud by recognizing fraud scams. Some tips are:
Share information about scams with friends and family. Use social networking to inform your friends and family to help keep them safe. A good site to check out is www.fraud.org. It has a ton of useful information for consumers.
PBN: Have you noticed any new fraud trends with the downturn of the economy?
TANSEY: With so many people out of work, there has been an increase in the number of job scams out there. Some of the things we have seen are mystery-shopping scams and work-from-home scams. There are also fee-fraud scams out there where the fraudster wants the job seeker to pay money in advance for something like a work visa or supplies for the job. Another scam is jobs that will pay you money before you have even started working. The biggest way to avoid these type of scams is to be vigilant. If the job offer doesn’t seem legitimate, research the company before you apply.
