TOPIC: Employee Issues

Blog - Threat from Within: Employee Fraud

Threat from Within: Employee Fraud
Financial Institutions Face Risk from Internal Fraudsters
February 25, 2019 by Verafin

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The Association of Certified Fraud Examiners (ACFE) report that employee fraud “is likely the largest and most prevalent threat” faced by organizations today. This “fraud committed against the organization by its own officers, directors, or employees—constitutes an attack against the organization from within, by the very people who were entrusted to protect its assets and resources.”

In this insightful blog post, you will learn five tactics employees may use to commit fraud against their employers, along with an exploration of fraud controls that financial institutions can implement for appropriate monitoring of employees.

Read now:


    3 Unusual Advantages of Women in Banking

    We're excited to share our newest post in the Beyond Banking series, where we're talking about larger issues around work-life balance, leadership, negotiations, and now, advantages of women in banking. In this post, we'll touch on some of the challenges, but we will focus on the unique advantages that women in the finance industry do have, and how to leverage those at work:

      FREE CBANC Webinar 4/25 @ 2PM EST "Optimizing Your Policies and Procedures"

      Happy Friday everyone! We're having a free webinar compliments of our partner, Silvercloud, on 4/25 at 2PM EST on how to optimize your policies and procedures so your front line can enforce them properly and save time and confusion when dealing with customers.

      Al Rosenbaum, EVP of Customer Success and Marketing at SilverCloud, joins us to cover:

      Why the structure of policy, procedure, and product manuals are critical to the success of your bank or credit union
      The impacts these manuals have on employee experience and productivity, customer/member experience, and leadership strategy
      How to reinvent and architect your policy, procedure, and product manuals for success (less rework, greater revenue).

      If you can't make the live event register anyway to get the replay.


        CBANC is Hiring! Help us find our next team member!

        Hi CBANC'ers!

        We are currently hiring a junior (0-2ish years experience) sales development/account management rep based out of or wanting to move to Austin (no relocation assistance provided). Folks who work for a bank/CU or a fintech/financial services company with B2B experience a plus! If you know of anyone please send them my way or feel free to direct message me on CBANC. Job posting:

          2017 Credit Union Call Center & Benchmarking Survey

          The results are in from this year’s 2017 Credit Union Contact Center Benchmarking Survey conducted by Strategic Contact. Register to learn how your institution stacks up and what key trends will impact your strategy for the year ahead. Registrants will also receive a link to download the results of the survey following the webinar.

          Join Lori Bocklund, President of Strategic Contact, and Al Rosenbaum, EVP of Customer Success at SilverCloud Inc., as they discuss the impact of and insights behind this year’s results. Gain a better understanding of the current industry landscape, while learning how to improve your member service and respond to growing competition. In this webinar, we’ll focus on:

          • The tensions, drivers, and disconnects behind a strategy focused on member experience
          • The challenges of relying on training, coaching, and development to address issues of high call volume and attrition
          • Call center staffing issues, metrics, and technology usage trends and gaps
          • Current approaches to reducing workload and improving agent performance
          • & much more

          Register today to secure a spot!

            CBANC Training Through Year End

            Hi all and Happy Halloween! Quick reminder that as things start to slow down for the holidays and you all get some more time on your hands (HA!) we have some great upcoming training webinars (and a whole on demand library too!). Check them out and sign up today for any that are interesting. If you think they're all amazing DM me about our all access pass. You get a heavily discounted rate to get access to all our training for a whole year for your ENTIRE bank or CU.

            Upcoming Webinars

            On Demand Webinars

            And now for some humor...or for those born in New England (like me!) say...humahhhh


              Employee Incentive Program Policy

              Manager at a credit_union ($1.7BUSA)

              In light of recent developments in the banking industry we are looking to draft a Board approved Employee Incentive Policy. Not "in the weeds" procedures but a high-level policy that sets forth requirments and internal controls for employee incentive programs. If anyone has developed such a policy and you are willing to share, that would be great. Thanks!

                10 Questions to Ask About Your Bank/CU's Web Design Project

                Does your bank or credit union need a new website? If so, you may be wondering where to start or how to begin. This 16-page eBook will help you get your project rolling and assist you in determining the most important questions to consider when planning for the launch of your new website.

                In this eBook, we discuss what questions you should ask and why they are important. Questions include:

                • What are your objectives?
                • Does your website represent your brand?
                • What is your SEO strategy?
                • What is your conversion strategy?
                • How will website traffic be measured?
                • How will social media be integrated?
                  ....And many more!

                Download the eBook here!

                Any questions we missed? Let us know! Comment below or email me at We're always looking to improve the resources we offer the Bank/CU community.


                  Introducing CieloStar: Better benefits management for financial institutions

                  Person at a Company (USA)

                  The team here at CBANC has some exciting news to share! We’ve partnered with CieloStar, a health benefits administration company, to provide our members with access to a comprehensive benefits marketplace.

                  A few perks of this program:

                  • Unique products: In addition to major medical employees can also choose dental, vision, life insurance, accident, cancer, critical illness, & other plans.

                  • CieloStar works with your existing broker: No need to transition to a new team!

                  • Consolidated billing: One monthly bill for all products.

                  • Easy-to-use: Employers can sign up, choose plans, & upload their employee census.

                  Let your benefits coordinator know! Tell him/her to submit a request to start exploring products & services, shop around for available plans, & upload their employee census -

                    FREE CBANC Educational Webinar: Optimizing Your Policies and Procedures

                    We know a lot of our members come to CBANC to download policies and procedures from your peers to make sure they're staying compliant. However, do you sometimes wonder if your FI is actually following these policies and procedures? Do you feel confident that an auditor or examiner will see that your actions match what's on paper? Do you also wonder if your front line is making errors or spending too much time trying to find and/or interpret your P&Ps?

                    If so, join us live on July 13th @ 1pm CDT for a complimentary webinar to learn how your policy and procedure manuals are setting your bank or credit union back. We will look at real industry case studies and discuss this pervasive industry problem. Plus, we’ll offer solutions for turning a productivity killer into a revenue driver, and outline best practices for reducing risk and rework.

                    In this webinar you will learn:

                    • Why the structure of policy, procedure, and product manuals are critical to the success of your bank or credit union
                    • The impacts these manuals have on employee experience and productivity, customer/member experience, and leadership strategy
                    • How to reinvent and architect your policy, procedure, and product manuals for success (less rework, greater revenue)

                    *Can't make the live event? Register anyways to receive the playback information. *

                    Learn more and register here.

                      FYI! Educational Video Library on CBANC

                      Did you know that in additional to our we also have a growing library of on demand educational webinars? Some cost money but others are completely FREE! Check them out here. Don't see what you're looking for? Please let us know if there's more content you'd like to see!

                        Tips to Remove Compliance Risk from your Policies and Procedures

                        Policies and procedures are a vital part of every bank and credit union. Yet these documents are often dozens of pages long and difficult to understand by the people who reference them most: front-line customer service staff. The result is confusing and hard-to-find policy, procedure, and product information that puts your bank or credit union at risk, diminishes productivity, and impacts revenue.

                        Learn more about how your policy, procedure, and product manuals are impacting compliance and other areas of your institution with our attached white paper.

                        For even more info, check out our free educational webinar, "The Number One Killer of Staff Productivity and Revenue — and How to Fix It" on May 18 or June 15 at 2pm EST.

                        Get all the details and register by clicking here!

                          CA HR Laws/Regulations (Specific)

                          Employee at a bank ($669MUSA)

                          Good Afternoon,

                          I'm currently preparing an overall Compliance Risk assessment for a community bank in California. I'm looking for specific laws/regulations that pertain to an employers responsibilty to keep employee non public, private information secure including: SSN, DL numbers, salary information, health/medical records, etc. (Not looking at workplace privacey or topics related to use of facilities, equipments, lockers, etc).

                          What laws/regulations do some of you here in CA look at with regards to HR compliance?


                            Loan Incentive Policy

                            Manager at a credit_union ($1.7BUSA)

                            I'm not certain about other regulators but NCUA regulations require a federal credit union to have a Board approved loan incentive policy before embarking on a loan incentive program focused on lending employees. Does anyone have such a policy they would be willing to share? Thanks!

                              Employee Advocacy

                              Imagine if your institution just had one phone for everyone. How hard would it be to do business?

                              And yet, that is how we treat social media. The most successful institutions have found a way to make social media part of the culture. A shared responsibility. In 2015's Social Media Month we learned from Avidia and the Avidia Smarties on how to create a social organization.

                              Join us for this year's social media month;