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Preventing fraud comes down to breaking up the elements of the fraud “triangle” or keeping them from forming in the first place, experts said.

Although no one tactic, procedure or product can protect a credit union entirely from internal fraud, experts in the field reported credit unions can deploy a set of policies and procedures that can make internal fraud riskier and more difficult for the culprit to carry out.

“Internal fraud often reflects what we have come to call a fraud triangle,” ACL Services Ltd. Vice President of Product Dan Zitting explained.

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