Fraud & CUs: Target Breach, Embezzlement and Beyond
As the number of employees banned from working at credit unions due to criminal activity continues to make headlines, combating the enemy within remains a top priority.
At the same time, retailer Target admits its card breach affected nearly double its first estimates, and included personal data like telephone numbers and email addresses.
Read the entire Fraud Report:
Combating the Enemy Within: Guest Opinion: There are a number of steps a credit union can take to minimize the risk of internal fraud and maximize the potential to quickly uncover it.
Fraud Losses at Credit Unions: Get the facts about the causes of credit union fraud and the losses they've cost the system.
Credit Union Manger/Treasurer Faces Embezzlement Charge: William J. Memmer accused of stealing $1.8M and understating assets by $5.7M, causing failure of $15.5M GICFCU.
Target Breach: Credit Union Lessons Learned: Credit unions that informed members and replaced cards early are reporting few to no losses.