MCUA Addresses Target Data Breach
Credit unions in Missouri are on high alert again due to a data breach. On Thursday, December 19, a massive data breach at Target was confirmed. It is estimated that 40 million credit and debit card accounts were compromised from November 27-December 15, including cards in Missouri.
The Missouri Credit Union Association (MCUA) immediately contacted Missouri's U.S. Senators and Representatives regarding the data breach and the need for legislative solutions. MCUA staff also briefed credit unions on the breach and strategies during its regularly scheduled legislative call on December 19. MCUA employees are consulting with credit union experts and the Credit Union National Association (CUNA) on how to best address this issue.
“We have communicated with the entire Missouri delegation about the need for a legislative solution to this situation,” says Amy McLard, MCUA senior vice president of Advocacy. “ We hope that the nationwide aspect of the Target data breach will provide an impetus for Congressional action.”
MCUA will follow up with a questionnaire to all member credit unions to investigate practical reforms in regards to data breach.
In wake of this data theft, many credit unions have taken to Facebook and Twitter to keep their members informed. In these updates, credit unions urge members to either closely monitor their accounts for fraudulent charges. (See examples to the right.)
MCUA encourages communication with your members through multiple platforms, including social media. Ask members to closely monitor their accounts if they used their cards at Target during the November 27-December 15 timeframe and to report any fraudulent activity. Please share the specific number to call if they have any questions. Direct any online questions offline by asking members to call your credit union.
If your credit union has a plan to handle the situation, communicate those steps with your membership.