DECATUR, Ala. — Officials with Redstone Federal Credit Union say that Morgan County investigators have arrested 18 people in connection with fraud perpetrated against the financial institution.
In a statement that was released Monday, the credit union said the arrests happened last week and was the result of a year-long investigation. They said that "similar arrests are expected in surrounding counties."
It was not revealed what types of fraud were committed.
"Any Redstone member who suffered a loss resulting from these fraudulent activities were fully reimbursed by Redstone," officials said. "We are committed to protecting our members’ accounts, which are insured through the National Credit Union Administration."
One of the easiest ways for customers to prevent fraud is to keep a regular eye on your accounts and report any charges you don't recognize or other types of unusual activity immediately. In the case of RFCU accounts, members should call 1-800-234-1234 or email info@redfcu.org.
Across many financial institutions, depositors are usually not held liable for unauthorized or fraudulent charges.
If you confirm fraudulent activity on your accounts, you should also alert the major credit bureaus (Experian, TransUnion, and Equifax) and request a temporary freeze. This prevents any further fraudulent activity - for example, accounts being opened in your name - from happening. Remember to contact the credit bureaus again to deactivate the freeze once your accounts are back in good order.
The Federal Trade Commission has a list of tips you should take if you become the victim of any type of fraud or scam.