News

WEST PALM BEACH, Fla. - Credit unions across the country are declaring April 16 Shred Day. According to those credit unions offering the free service to members, post-April 15 is the perfect time to do some spring cleaning. They are advising members to gather all old papers including outdated tax...

SAN DIEGO, Calif. - A former employee of North Island Credit Union has been sentenced to 15 months in jail after pleading guilty to embezzling more than $338,000 from the financial institution. Authorities said 40-year-old Leanne M. Truitt used the money to live a lavish lifestyle, including throwing elaborate parties,...

AUSTIN, Texas - As part of its strategy to help financial institutions combat rising check fraud, Vigilance Financial Systems LLC has upgraded its fraud protection solution FraudSWEEP. Version 3.6 offers financial institutions a parameter-driven option, called KiteTAILER, which detects accounts with suspect check kiting activity to help financial institutions detect...

GRAPEVINE, Texas - The lions' share of the Texas Credit Union League's Annual Membership Meeting April 8 at the Gaylord Texan Resort and Conference Center was devoted to discussion of TCUL's 2004 legislative and advocacy activities. Voting business occupied an insignificant portion of the overall agenda. Two items - a...

SAN FRANCISCO - TRUSTe, an online privacy non-profit organization, and professional services firm Ernst & Young LLP have teamed up to release a guide entitled "How Not To Look Like a Phish" to help minimize phishing attacks. Phishing is the criminal act of posing as a legitimate business via digital...

TROY, Mich. - The folks at the accounting firm Doeren Mayhew serve more than 150 credit unions throughout the United States, and they've learned when internal fraud is uncovered the credit union response usually zeroes in on keeping it quiet. Is it a question of, as the British quip, not...

COLUMBIA, S.C. - First phishing. Now pharming. While phishing depends on luring unsuspecting users one-by-one to fake online banking or other e-commerce sites where the fraudster hopes they'll enter their real ID and passwords, pharming aims to harvest victims en masse by invisibly directing them there. The first stirrings of...

GRAPEVINE, Texas - Although the banking industry is stepping up "anti-credit union" efforts, with three of the leading bankers' associations joining forces to tackle credit union legislative and regulatory issues, Washington lawmakers aren't being swayed, CUNA President Dan Mica told attendees at the opening session of Texas Credit Union League's...