The $3.6M North Dade Community Development FCU violated BSA and Patriot Act regs for five years.
More than two dozen credit unions have been hit and some have suffered losses ranging from $100,000 to $400,000 in a home equity line of credit scam, according to Roger Nettie, a senior consultant of risk management at CUNA Mutual Group.
Could North Dade Community Development FCU have prevented its $300,000 fine for BSA violations?
CUNA Mutual reports more than a dozen credit unions have suffered losses behind cybercriminals posing as members.
ARLINGTON, Va. — A U.S. Treasury official who spoke at a symposium on credit union cybersecurity reiterated that credit unions should be doing more to defend their operations against attacks.
From 2009 to 2013, 46% of CUNA Mutual bond claims paid involve employee dishonesty.
Consumer site ranks transfer card higher than banks for simplicity and transparency.
Many credit unions lack adequate security budgets. Cyber insurance can fill the risk gap.
State Employees’ CU outlines recent financial performance and its risk profile and risk management overview.
The CFPB will review how credit unions use reporting agencies to screen members when they open a checking account.