Five new NCUA videos to fight fraud

ALEXANDRIA, VA (November 3, 2014) — Credit unions have a new source of information on how to detect and deter employee dishonesty and fraud as a result of the five videos released by the National Credit Union Administration today.

The complete eight-part series, “Deterring, Preventing and Detecting Employee Dishonesty,” is available on NCUA’s YouTube channel.

“Frauds, even those that are relatively small can have far reaching repercussions affecting the reputation of the entire credit union system,” NCUA Board Chairman Debbie Matz said. “NCUA’s newest videos provide practical tips for fighting fraud. I encourage all credit unions to take advantage of this training resource and to implement internal controls based on what they learn.”

Developed in partnership with CUNA Mutual Group and featuring staff from NCUA’s Office of Small Credit Union Initiatives, the “Deterring, Preventing and Detecting Employee Dishonesty” video series provides real-world scenarios that can help managers and employees identify the warning signs of potential fraud or employee dishonesty at a credit union. The first three episodes of the series released in July provided an overview of the series, and outlined the importance of maintaining a policy on employee fraud and conducting surprise cash counts.

The new videos released today address separation of duties, employee and family member accounts, file maintenance transactions, and vault cash counts. Another video highlights the possible behavioral red flags and warning signs of potential fraud, summarizes the main points of the video series, and provides information on additional resources.

NCUA’s Office of Small Credit Union Initiatives developed the free videos. The office fosters credit union development and the effective delivery of financial services for small credit unions, new credit unions, minority depository institutions and credit unions with a low-income designation. To learn more about the office’s activities, go to

NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 98 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.

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