CUNA Mutual Offers Education on Fraud
Recognizing wire and Automated Clearing House fraud as one of the fastest growing risks facing credit unions, CUNA Mutual will host a Webinar on the topic next Wednesday, Feb. 10 at 11 am EST.
The Webinar, entitled "Wire/ACH Fraud," is designed to help credit unions improve their risk management skills and lessen potential losses from this type of fraud. CUNA Mutual Risk Managers Ann Davidson and Ken Otsuka will identify the latest ACH and wire transfer fraud warning signs and how credit unions can implement loss mitigation techniques to protect themselves and their members. Included will be an overview of the regulations that govern wire and ACH transfer transactions and how liability is assigned.
According to the FBI, ACH fraud committed by criminals stealing online banking credentials of small and midsize businesses resulted in some $100 million in attempted losses through the first 10 months of 2009.
For more information on the Webinar visit www.cunamutual.com.