Former CUSO Owner Admits to $1 Billion Scheme Targeting a New York CU

Hanan Ofer pleads guilty to failing to maintain an effective anti-money laundering program in violation of the Bank Secrecy Act.

By Peter Strozniak | September 14, 2022 at 05:36 PM

A New York man admitted in federal court Tuesday he was part of a scheme that channeled $1 billion in high-risk transactions, including millions of dollars of bulk cash transactions from a Mexican bank, to New York State Employees Federal Credit Union.

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Fraud & Enforcement

1 CU Loses Nearly $300,000 in Four Hours With ATM Skimming Device

2 New Hires Include SVP of Consulting at Velera

3 Virginia CU Goes Federal, Joining 14 Other Charter-Switching CUs

4 Credit Union's Internal Investigation Leads to Employee Grand Theft Charge

5 Boomers Are Not Enough: How to Attract Younger Consumers

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CU on a Mission to Make Housing Affordable

By Michael Ogden | July 26, 2024

Leadership at Great Basin FCU is involved in a new initiative to make housing affordable for members in Nevada.

CU on a Mission to Make Housing Affordable

Bank Shareholders Approve Proposed Acquisition by Global Credit Union

By Peter Strozniak | July 26, 2024

Although Washington state regulators gave the deal a green light, decisions from the NCUA and FDIC are pending.

Bank Shareholders Approve Proposed Acquisition by Global Credit Union

Space Coast Sells $669 Million in Auto Securities

By Jim DuPlessis | July 26, 2024

The Florida CU is the fourth-largest holder of indirect car loans, the type sold in a deal that closed Wednesday.

Space Coast Sells $669 Million in Auto Securities

Embracing a Modern Tech Stack and Architecture for Seamless Payment Experiences, Increased Efficiencies and Lower Operating Costs link

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