This talk on fraud in credit unions provides a practical, up-to-date look at how fraudsters operate and how credit unions can protect members and assets. The presenter will cover common schemes (embezzlement, check and ACH fraud, phishing and social engineering, corporate account takeover, insider threats), red flags to watch for, and how fraud evolves with technology. Attendees will gain actionable insights into prevention, detection, and response, plus steps to strengthen controls, governance, and regulatory compliance with guidance from NCUA and related authorities. The session will include real-world case studies, risk assessment methods, and recommended policies, training, and incident response plans.
Key topics:
- Common fraud schemes affecting credit unions and their modus operandi
- Internal controls, separation of duties, and governance best practices
- Fraud detection techniques: data analytics, anomaly detection, and monitoring
- Employee and member education to reduce risk
- Incident response, reporting requirements, and regulatory considerations (e.g., NCUA)
- Case studies and practical takeaways for strengthening security posture
