How To Rob A Credit Union: The 5 Best Ways
There are dumb ways and smart ways to steal from credit unions.
The dumb way is what most credit unions spend most of their time thinking about preventing, that is, the old-fashioned Bonnie and Clyde stick up, with guns a-waving, maybe a shot in the ceiling for punctuation.
Security blogger Brian Krebs shows how small – and undetectable – skimmers have gotten.
“Know Your Customer” may be a banking mantra but identity theft, associated with fraudulent loans, money laundering and more, is one of the nation’s fastest-growing types of financial crime. It wins a high rank in the recent FTC round-up of complaint categories.
There is no obvious or easy cure for what is becoming an epidemic of stolen identities.
Financial institution theft does not get bigger than Zeus, a long-running cybercrime that has looted hundreds of millions of dollars – possibly billions – from innumerable victims.
ABC News had the story: the best way, tops, to loot a financial institution is to get a job in one. Bad bank examinations plus bad accounting plus bad compliance equals a golden opportunity for crooks with sharp pencils, suggested ABC.