NCUA Releases Anti-Fraud Videos

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The National Credit Union Administration (NCUA) released five new videos on preventing and detecting fraud this week. They complete an eight-part series that’s now available in its entirety on the NCUA’s YouTube channel.

“Frauds, even those that are relatively small can have far reaching repercussions affecting the reputation of the entire credit union system,” NCUA Board Chairman Debbie Matz said. “NCUA’s newest videos provide practical tips for fighting fraud. I encourage all credit unions to take advantage of this training resource and to implement internal controls based on what they learn.”

Developed in partnership with CUNA Mutual Group and featuring staff from NCUA’s Office of Small Credit Union Initiatives, the Deterring, Preventing and Detecting Employee Dishonesty video series provides real-world scenarios that can help managers and employees identify the warning signs of potential fraud or employee dishonesty at a credit union. The first three episodes of the series released in July provided an overview of the series, and outlined the importance of maintaining a policy on employee fraud and conducting surprise cash counts.

The new videos released today address separation of duties, employee and family member accounts, file maintenance transactions, and vault cash counts. Another video highlights the possible behavioral red flags and warning signs of potential fraud, summarizes the main points of the video series and provides information on additional resources.

Questions about this story? Contact James Pearson: 206.340.4790, 

Posted in NCUA.