The NCUA issues prohibition orders to two former CU employees whose fraud schemes killed their cooperatives.
With all the news reports of credit union internal fraud, are you concerned about reputational risk at your credit union?
Read all of CU Times' coverage of the $613M credit union's lawsuits and regulator woes.
Among the NCUA's monthly prohibition orders are three former OTSFCU employees charged with running separate fraud schemes.
Redstone FCU employee steals $32K from 66 member accounts.
The state chartered $141,494 Metropolitan Church of God CU is handed over to the NCUA for liquidation.
The NCUA seeks to recover damages from a credit union failure allegedly caused by internal fraud.
Strong internal controls are just one source of prevention.
NCUA Vice Chairman Metsger says fraud is major contributor in more than half of share insurance fund losses.
Eva Barroso is sentenced to 27 months in prison for making false loans and spending the cash at casinos.