FinCEN Extends Money Laundering Rules to Non-Federally Insured Credit Unions

FinCEN Extends Money Laundering Rules to Non-Federally Insured Credit Unions

FinCEN has released a final rule requiring banks and credit unions that are not regulated by the federal government to comply with Anti-Money Laundering regulations, reports David Baumann of the Washington CU Daily.

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Using Audits as Assets

Using Audits as Assets

Audits don’t have to be scary, nor do they have to be without rewards. Chief Financial Officer Bob Frizzle shows you how to get the most out of your audits and turn the inconvenience into an asset.

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The Key to Internal Fraud Controls? Get Back to the Basics

The Key to Internal Fraud Controls? Get Back to the Basics

Due to recent high profile embezzlement cases, Jim Vilker argues that what the industry really needs is to slow down, check all the boxes, and get back to the basics of internal auditing.

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Why Fraud Happens

Why Fraud Happens

Employee fraud is unfortunately all too common in the credit union industry. But why does it happen? Auditing and compliance expert Marvin Johnson gives some background on the psychology of fraud so we can better prevent it.

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Internal Controls 101 – Protecting Your Credit Union

Internal Controls 101 – Protecting Your Credit Union

With the prominent case of the embezzlement of $40 million at CBS Employees Credit Union still in the news, AuditLink’s Jim Vilker gets back to the basics of how credit unions can prevent this from happening at their own institutions. Welcome to Internal Controls 101!

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Clear Your Mind and Your Risk Assessments Will Follow

Clear Your Mind and Your Risk Assessments Will Follow

Risk management isn’t as easy as buying a solution. In this CUSO Magazine exclusive, Jim Vilker and Patrick Sickels detail the three steps needed to set up an effective risk management system at your credit union.

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Going Back to the Basics to Prevent Embezzlement

Going Back to the Basics to Prevent Embezzlement

A recent high profile embezzlement case has the credit union industry wondering how this could happen. Jim Vilker dives into it and credits part of the failure with a lack of basic oversight and best practices. What could credit unions change now to prevent the preventable?

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