TOPIC: Controls

Fraud Prevention Strategy

Employee at a credit_union ($248MUSA)
Hello everyone, 

We are looking to build a "fraud prevention strategy" internally that can be used org-wide when conducting risk assessments, making decisions on risky transactions (check deposits, account openings, etc.) and for the purpose of audits to show what our current processes are. 

We do have individual processes/procedures to manage different types of fraud and identity theft, but we do not have a specific "strategy" in place to prevent fraud. Our prevention of fraud is mostly trained prior to our employees going to their respective branches, with on-the-job training happening as these situations come up. While we have a great success rate in preventing fraud, we are looking for a ideas on building a strategy to encompass all of our current processes. 

Does anyone have any materials they are willing to share that show the setup of your institution's fraud strategy? 

Thank you in advance! 

Dylan Stocking
Northern Credit Union

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    Director at a Company (USA)
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                                                                                                                            Originally Posted by Mike Snavely, Chief Commercial Officer of CBANC, on 30 Apr 2019 to CBANC FI Professionals Community.