Whether an employee created fake loans in a relative's name, siphoned funds from a member's account or paid personal expenses with a company credit card, creditunions have been hit especially hard recently by internalfraud.
In many of those incidents, embezzlement and other criminalactivities continued for years without detection.
Embezzlement and other fraud by credit union employees led to$311.4 million in losses for the share insurance fund between 2010and 2013 at liquidated institutions, according to the NCUA.
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