Data breach could impact credit union members in Alabama and Florida

LEVERAGE has received alerts this week from both CO-OP and CSCU regarding a data compromise impacting the restaurant chain Arby’s. Some financial institutions are already seeing fraudulent activity, which may be a result of this breach. The breach, which is still under investigation, is believed to have spanned October 25, 2016 to January 19, 2017.

There are many approaches to take when a card Issuer receives a card compromise notice. It is recommended that credit unions review the list of CO-OP’s suggested best practices to consider when determining a course of action.

If credit unions have any concerns about the impact this may have, please reach out to your credit/debit processors if you have not already received a notification. The LSCU will continue to provide updates in eSignal as we receive them.