RedZone Compliance Services, a premier provider of regulatory compliance and governance solutions, and Launch Credit Union are pleased to announce the formation of RedZone Protects, LLC, an enterprise risk and compliance focused Credit Union Service Organization (CUSO).
Filling out a suspicious activity report may seem tedious, but one filled out well can make all the difference in law enforcement cracking the case, say Keri Lillie and Heather Williams of Lillie and Company.
How are some individuals able to conceal millions of dollars in fraudulent activity at their credit unions? Keri Lillie explains how trusting employees can be riskier than trusting the system you’ve built around them.
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.
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.
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!
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.
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?