X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

From rings of alleged thieves working together with an auto dealership and a police officer to get loans to buy cars to an equity skimming scheme used to buy luxury items, over the past few months, credit unions have been bilked in cases that end up costing millions of dollars in losses.

Fighting fraud has become such a top priority that 58% of 200 credit unions and banks said they will increases resources to thwart criminal activity, according to BankInfoSecurity’s 2012 Faces of Fraud survey. This is up from 34% in 2010. Another 17% said they plan to spend between 10% and 20% more than they did last year.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.