MADISON, Wis. (10/8/10)--Representatives from more than 50 Wisconsin and Illinois credit unions met at CUNA Mutual Group Sept. 30 to discuss the latest emerging fraud exposures, robbery prevention tips from local law enforcement and best practices for fraud prevention. CUNA Mutual’s Risk Management Department hosted the half-day meeting to help credit unions understand and manage the most prominent, costly and growing risks and to provide executive-level guidance for key steps in managing those risks, said Brad Mundine, CUNA Mutual regional manager of risk management. “Regulatory and legislative dynamics combined with pervasive economic forces have redefined the boundaries of credit unions' risk exposures in 2010,” Mundine said. “Credit unions are facing new and changing risks from just about every direction imaginable.” “The power of collaboration can't be overstated in today's rapidly changing fraud environment,” he added. “Today's meeting called attention to several significant threats credit unions face and the resources available to manage those risks.” The free event was held exclusively for CUNA Mutual Bond policyholders. It featured four speakers, including:
* Julie Walser, manager of loss prevention at UW CU, Madison, Wis., who provided an overview of its Loss Prevention team and discussed shared incentive programs to increase employee awareness of deposit fraud. She also discussed system tools the credit union has developed to identify and control credit card fraud. * Brad Jobe, CUNA Mutual director of information technology, who focused on system intrusions, the impact they can have on credit unions and members, and shared resources to assist in blocking intrusions. * Frank Chandler, crime prevention officer with the Madison (Wis.) Police Department, who discussed robbery prevention tips for credit unions including the use of “No Hats, No Hoods, No Sunglasses,” proper surveillance for a credit union and post-robbery actions that should be taken. * Ann Davidson, CUNA Mutual risk manager, who discussed the biggest fraud threats facing credit unions in 2010.