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.
Christen Lipschutz breaks down the various SOC reports, what’s in them, and how they can be beneficial for your credit union.
Having a vendor management tool can be a great boon, but it’ll take a sound plan and policy to manage your vendor relationships effectively. Jim Vilker shares his thoughts on what a good policy and procedures need to succeed.
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.
Myra Toeppe has been named director of the Office of Examination and Insurance at the National Credit Union Administration, reports David Baumann of the Washington Credit Union Daily.
Credit unions need to cover a lot of ground when it comes to compliance and regulations. Thankfully, Marvin Johnson has some advice on where you should be focusing your time and efforts.
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.