Source: Blacknote/Shutterstock
While some may argue that credit unions' greatest vulnerability is to cybercrime, I disagree – it is in fact to internal fraud. CU Times has reported on a number of credit unions that failed due to internal fraud, while we have yet to see a credit union fail due to cybercrime. We have seen many fraud-related losses at credit unions as well due to poor internal controls, including inefficient processes and countless errors.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
