news.cuna.org/articles/116819-podcast-fraud-calls-for-a-quick-response
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PODCAST: Fraud calls for a quick response

Steve Timmons seeks out reasons why incidents occur.

October 23, 2019

For Steve Timmons, tackling a fraud incident involves not only resolving the issue for the member, but also determining how the incident occurred and how to prevent it from happening again.

“We analyze each situation to see if we could have done something differently or put something in place that can assist us in getting the money back quickly,” says Timmons, fraud coordinator at $778 million asset VSECU in Montpelier, Vt. “In any instance involving fraud, you have to react quickly or the money will be gone.”

That quick, detailed response often leaves members grateful.

“You can tell from a voice over the phone how appreciative folks are when you save them from what could be, in some instances, a substantial loss,” he says.

Timmons, who was named a 2019 Credit Union Rock Star by Credit Union Magazine in a special issue sponsored by Fiserv, joined the CUNA News Podcast to talk about fraud resolution, top fraud threats, fraud education, and more.

You can listen and subscribe to the CUNA News Podcast in Apple’s iTunes Store, Spotify, Google Play, and Stitcher Radio.

In this episode:

1:34    Steve's role at VSECU

5:38    VSECU’s approach to fighting fraud

9:49    Top fraud threats

13:47  What keeps him up at night

14:59  Advice on addressing fraud