The NCUA has discovered that the situation prompting the Fraud Alert it issued on Tuesday was a credit union's effort to test its security systems.
An unnamed credit union created a fax of an NCUA Fraud Alert designed to test its security system. "This was an unauthorized and improper use of the NCUA logo, and also included a falsified signature of then-Chairman Michael Fryzel," the agency said. The bogus alert was forwarded to NCUA, which prompted NCUA's action.
"Credit unions are not authorized to create facsimile documents bearing NCUA logos or signatures, or to improperly represent communications from NCUA, even during the legitimate conduct of business such as a computer security assessment," the agency stated.
