Automated anti-fraud and money laundering tools are now in place at the $625 million Michigan First Credit Union in Lathrup Village, Mich.
Wolters Kluwer says it installed nearly 400 of its ComplianceOne solutions at U.S. banks and credit unions in the first half of 2012.
Properly implemented, the CSA process is an extremely effective risk management tool that can help auditors, examiners and the credit union with the compliance burden.
CMG consultant tells CUES session in Las Vegas that formal process is a key.
Despite the documented ability of smart chips to cut fraud losses, experts say some credit unions and CUSOs have not moved very quickly to start issuing credit and debit cards enabled with the higher tech chips.
Credit unions and community banks using COCC as their service bureau for core processing will now be offered an integrated enterprise risk management solution from Fortress Risk Management, the Connecticut companies said.
A CUNA Mutual risk management expert said an enterprise approach is needed to combat the growing threat of fraud against credit unions.
Senior Risk Management Consulant Ann Davidson tells breakout group at America's Credit Union Conference that silo approach no longer works.
CU Rx, a newly launched risk management and compliance CUSO, has signed on Ohio Healthcare Federal Credit Union.
Finding the schedule to conduct a quarterly or annual risk management review proved to be a time crunch for CP Federal Credit Union.