5. Sustaining Support Beyond the Incident Helping a client through the immediate fallout of fraud is the first step. Ongoing protection is key to rebuilding confidence. Financial institutions can offer continued support through: • Identity theft monitoring • Credit and account activity alerts • Help with placing credit freezes • Referrals to advocacy groups for seniors or other vulnerable individuals Staying engaged after the crisis helps banks and credit unions show they are not just financial service providers but also long-term partners in their clients’ security and peace of mind. Making Victim Support a Shared Responsibility An effective response to fraud must involve collaboration across internal teams. Anti-money laundering (AML), information technology, fraud prevention and client service departments should operate under a unified plan to ensure quick and coordinated action. Regular training and updates on emerging fraud trends are essential. Equally important is leadership support. Institutions that invest in fraud prevention tools, adequate staffing and client education signal that fraud victim support is not a side function but a core priority. Turning Crisis into Opportunity Fraud response efforts should be viewed as risk mitigation and opportunities to lead with purpose. Financial institutions can demonstrate their commitment to ethical banking and social responsibility by standing with victims and guiding them through recovery. Banks and credit unions that take fraud victim support seriously will be better positioned to retain loyal clients, enhance their brand reputation and serve as trusted pillars in their communities. Terri Luttrell is a seasoned AML professional and former director and AML/OFAC officer with over 20 years in the banking industry, working both in medium and large community and commercial banks ranging from $2 billion to $330 billion in asset size. 100 South Phillips Avenue, Sioux Falls | (605) 335-5112 | advantage-network.com WE UNDERSTAND COMMUNITY BANKS Born from a community bank to serve financial institutions,The Advantage Network has a unique understanding of your needs. With debit card services, card production, marketing support, ATM services, and fraud monitoring, our goal is to help you increase non-interest income — while providing the high-touch, personalized customer service our team is known for. Reach out, and let’s start a conversation! 18 NEBRASKA INDEPENDENT BANKER
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