Financial institution employee fraud schemes last a median of 18 months before detection, with a median loss of $140,000, said CUNA Mutual Senior Risk Management Consultant Roger Nettie during a breakout session Wednesday morning at CUNA's America's Credit Union Conference in New York.
According to the 2012 Global Fraud Study conducted by the Association of Certified Fraud Examiners, more than one-fifth of these caused losses of at least $1 million.
Also from 2013 ACUC:
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