Identifying internal fraud risks became a hot topic in 2013 as groups presented webinars and published articles on the topic.
Although the NCUA recently announced it is developing new exam procedures to improve the identification of fraud risk indicators, especially at small institutions, experts agree fighting fraud requires a team effort that includes active boards, strong supervisory committees and stiff internal controls.
The NCUA told Credit Union Times Oct. 30 it is currently developing new exam procedures to improve the identification of fraud risk indicators, especially at small institutions.
It's been encouraging to see the ample response we've received to our ongoing coverage on reputation risk as it relates to small credit union fraud. Most of the feedback has been positive, with vendors and credit union managers alike saying the issue can no longer be ignored.
Fraud prevention starts at home, but there's some fear of Washington, too.
CAMEL scores are an NCUA cathartic to purge troublemakers and leave only the peace-loving, brain-dead, grade-grubbing teacher pets that they wish to control with the assignment of a grade.
NCUA Board Chairman Debbie Matz last week announced the appointment of JeanMarie Komyathy as director of risk management in the Office of Examination and Insurance. Komyathy assumes her new duties September 3.
NASHVILLE, Tenn. — Compliance, collaboration and recruitment are just a few of the top concerns for leaders of credit unions under $75 million.
NASHVILLE, Tenn. — The NCUA will reconsider the $10 million threshold that currently defines small credit unions, its board chair said Thursday.
Agency outlines new program for credit union of $10 million or less.