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.
CU*Answers technical and compliance experts Dave Wordhouse and Patrick Sickels recently attended the RSA Conference to learn about the biggest cybersecurity threats facing credit unions today. In this first of a series, they take a look at the big business that is cybercrime, and the individuals responsible for some of the biggest cyber breaches.
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?