Western Corporate Federal Credit Union has published an instructional document to help credit unions protect themselves from fraudulent electronic financial transactions.
"The Information Security and Risk Mitigation Guide" provides information on implementing security controls on ACH applications and workstations. It also offers ways to reduce technology intrusion risk, regardless of software application.
The guide comes on the heels of a Sept. 9 NCUA letter to credit unions, 09-FRAUD-02, that addresses ACH fraud. In it, the regulator alerted credit unions that compromised log in credentials were resulting in increased fraudulent EFTs.
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