Police investigate fraud involving Ascend credit cards - WMC Action News 5 - Memphis, Tennessee

Police investigate fraud involving Ascend credit cards

GALLATIN, TN (WSMV) -

Officials at Ascend Federal Credit Union stress there has been no breach of bank security following reports that stolen credit cards were used across Middle Tennessee.

Investigators in Gallatin were the latest to get involved after four Ascend customers reported fraudulent credit card activity in the past few weeks, Officer Bill Storment said in an email Thursday.

The crimes are connected to similar fraud across the region, all involving breached credit and debit numbers from Ascend accounts, Storment said.

The credit union said there has been no breach of security on its end and officials are not seeing an abnormal spike of credit card theft.

Credit union members are encouraged to file a police report after spotting any fraudulent activity, bank officials said Friday.

"We ask our members to do this to this to help us because we are a credit union, we are community owned," said Assistant Vice President of Security Michele Stone.

The documentation allows the bank and customer to pursue criminal charges and recoup lost money.

However the extra paperwork may lead local police to believe a disproportionate number of Ascend customers are being affected by credit card fraud.

In a news release from Jan. 7, Ascend urged customers to monitor their accounts because of reports of fraud in the aftermath of breaches at Target and Neiman Marcus.

In the Gallatin cases, investigators said a group of Hispanic men have used the stolen numbers to create fake credit cards, then buy gift cards at Walmart and other stores.

On April 27, the suspects were able to use 32 different cards to conduct multiple transactions at the store, Storment said.

Customers should keep a close eye on their accounts. Ascend customers are protected by Visa's zero liability policy, the bank said in January.

Ascend Federal Credit Union has 15 financial centers located in Bedford, Coffee, Davidson, Franklin, Marshall, Maury, Rutherford, Warren, Williamson and Wilson counties. The credit union is based in Tullahoma, TN.

Copyright 2014 WSMV (Meredith Corporation). All rights reserved.

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