Source: Shutterstock.
Credit union insider fraud cases did not take a holiday in 2020, but they substantially declined presumably because of the economic and health crisis caused by the pandemic.
There were 10 internal fraud cases and three former credit union employees who were convicted and sentenced for embezzlement/theft crimes for a total of 13 fraud cases this year that were prosecuted in federal, state or local courts. That number is quite low compared to 2019 when there were an estimated 15 insider fraud cases and 17 former credit union employees who were convicted and sentenced for embezzlement/theft crimes for a total of 32 criminal cases.
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
© 2025 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.
