Fraud losses

The loan participation has been flagged for potentially fraudulent activity.

The company says its exposure involves a participation loan to a business customer for which it was the originator.

The unnamed borrower was the victim of an alleged scam by another company.

U.S. counterfeit card losses have plummeted in the past four years, a signal the challenging EMV migration has made a dent.

Debit cards often lack the rewards and spending power of credit cards, and thus do not figure prominently in TV ads or direct mail flyers. Yet despite these limitations debit cards are beloved by millennials and anyone else who wants to avoid credit card debit.

This type of fraud could increase as criminals become more sophisticated and look for new ways to land a payday.

As strategic planning season kicks off, credit union boards and executives must consider whether they’re doing enough to prevent evolving cybersecurity issues, including account takeovers.

Banks and merchants absorb billions of dollars in payment card fraud annually, but it's not for a lack of tools designed to stifle that fraud. It's becoming increasingly apparent that those tools simply aren't being used to their fullest capabilities.

Less than a month after Municipal was placed into conservatorship, former CEO Kam Wong received a 66-month prison sentence along with an order to repay millions he embezzled from the credit union.

While Noah Bank’s CEO has been accused of self-dealing in connection with SBA loans, its chairman says the directors had a succession plan ready to go and are rallying to rescue the bank’s reputation.

While advanced push payment fraud has dominated the headlines in recent years, another type of scam has been costing U.K. businesses millions — even though many companies are completely unaware of it.

Edward Rostohar, who was CEO of CBS Employees Federal Credit Union, could face up to 15 years in prison following a $40 million scheme that brought down the institution.

More than half of all states don’t have an electronic system to track car titles and liens, which increases the potential for fraud and costs for lenders.

The Credit Union National Association has partnered with the group to help distribute the platform to financial institutions free of charge.

A recent study shows credit unions are likely to be increasingly reliant on vendor partners if they want to maximize efficiency and security in the account-opening process.

Lawmakers must hold merchants accountable when credit unions are left cleaning up the mess after data breaches.

Several banks could lose money over tax credits tied to DC Solar, a California firm wrestling with a fraud claim.

The National Credit Union Administration issued a prohibition order against Deborah Peters, who worked at Wilkes-Barre City Employees Federal Credit Union.

Despite strong performance in the industry overall, analysts expect regulators to shutter more institutions in the years ahead.

In a plea agreement, Kam Wong consented to forfeit and repay more than $9.8 million embezzled from the New York credit union. He is scheduled to be sentenced in April 2019.