Security expert tells CU Times JPMorgan and others fail to invest in enough technology to protect against system access.
FBI agent tells CU Times he's never seen a case where three employees independently stole from the same institution without collusion.
Move comes after Palmetto Health Credit Union experienced financial losses tied to transactions in several states.
Latest charges allege Ohio men embezzled $1.9 million that led to the credit union’s collapse.
Trade group says retailers are not subject to same data security standards as credit unions.
The former assistant manager and four members of the $40M Wilkes-Barre City Employees FCU plead not guilty to a straw loan scheme.
Cards used at 51 franchised stores between Jan. 20 and Aug. 11 may have been compromised due to malware.
Two city police officers are among the members accused of defrauding the $40 million Wilkes-Barre City Employees FCU in Pennsylvania.
New charges from federal prosecutors include conspiracy to commit bank fraud, money laundering and making false statements.
A new NCUA video series, CUNA Mutual Group and a risk management vendor provide tips for credit unions to prevent employee fraud.