SHAZAM expert shares fraud-fighting insights with CU Broadcast
posted on Monday, December 8, 2025 in Company News
SHAZAM Senior Financial Crimes Consultant Mike Burke recently stopped by the CU Broadcast Studio Lounge at Corelation’s 2025 Executive Forum to share timely insights on one of the industry’s most pressing challenges: the escalating sophistication of financial fraud targeting credit unions and their members.
During his conversation with host Mike Lawson, Burke detailed the latest trends shaping today’s fraud landscape. He pointed to a surge in social engineering tactics, increasingly convincing impersonation schemes and the rapid rise of cryptocurrency-related scams as key threats confronting credit unions.
“We’re facing what I call ‘the perfect storm’ of fraud,” Burke said. “Scams have multiplied dramatically since the pandemic, and because only about 6 to 10 percent of victims report their experiences, fraudsters are exploiting that hesitation. In the past year alone, we’ve seen criminals impersonate financial institution fraud centers to re-target people who don’t want to speak to a live representative. It’s a level of sophistication we can’t ignore.”
Burke stressed the critical role credit unions play in strengthening both member and staff awareness as threats evolve.
“Fraudsters are using technology and AI to make their schemes more convincing every day,” he said. “That’s why ongoing education around social engineering — for both staff and members — is absolutely essential.”
He noted that phishing attempts, spoofed calls and emails, and impersonation of financial institutions continue to advance in complexity, underscoring the need for proactive communication and vigilance.
“When members know what to look for, they’re far more empowered to act quickly and avoid becoming victims,” he said.
Burke’s appearance reflects SHAZAM’s ongoing commitment to the success of the financial institutions it serves. For more insights from the CU Broadcast Studio Lounge interview, watch the full conversation.
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