Even with better detection tools, updated procedures, staff training, and member education, fraud still ranks as one of credit unions’ top concerns.
Financial fraud is growing quickly worldwide, and it can lead to major losses and real hardship for victims. In its 2026 Global Financial Fraud Threat Assessment, INTERPOL notes that as criminal networks work across borders, fraud has become a key part of broader criminal activity 
and often overlaps with organized crime, human trafficking, and cybercrime.
Members of the Nebraska Credit Union League met separately with Reps. Don Bacon and Adrian Smith to talk about ways to help protect members’ financial well-being.
Rep. Don Bacon represents Nebraska’s 2nd Congressional District and is a retired Air Force brigadier general. He also chairs the House Armed Services Subcommittee on Cyber, Innovative Technologies, and Information Systems (CITI), where he focuses on cybersecurity, deterring foreign adversaries, and protecting critical infrastructure.
Rep. Adrian Smith represents Nebraska’s 3rd Congressional District and serves on the Ways and Means Committee. He has worked on issues like identity theft involving Social Security numbers and oversight of federal benefits fraud.
After those conversations, Reps. Smith and Bacon agreed to co-sponsor the Taskforce for Recognizing and Averting Payment Scams (TRAPS) Act. This bipartisan House and Senate bill would create a Treasury task force to track payment-scam trends and keep up-to-date resources and tools that support fraud prevention efforts.
