The Members Group (TMG) is warning credit union clients to be on high alert for credit card fraud after a significant breach of Visa and MasterCard card data from payments processor Global Payments Inc.

Karen Postma, cards risk senior manager at TMG, said the company is assisting its card-issuing credit union clients with the implementation of defensive strategies to minimize the impact of card fraud resulting from the breach.

Postma, who has advised credit union card-issuers through breaches like the 2008 Heartland Payments System compromise, said it’s too early to predict the fallout from this particular breach. “We plan to be in close communication with each of our card-issuing clients for the next several months as the investigation into the breach continues,” she said.

“Credit unions should absolutely be proactive, however, monitoring their portfolios very closely to understand whether and to what extent they are being affected.

If they determine they are being hit with high levels of fraudulent activity, more aggressive measures are likely necessary.”