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In 2019, the credit union industry was baffled by yet another high-profile case of embezzlement by a credit union CEO. How could an employee of the $21 million CBS Employees Federal Credit Union pilfer an incredible $40 million? Finger pointing at all the individual areas of failure may provide some relief to those involved, but it does nothing to deter future malicious actors from achieving similar results. But with a few simple steps, the industry can get on the right track and it starts with one thing: Getting back to the basics.

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