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CU System briefs (11/16/2012)
  • WASHINGTON (11/19/12)--The Internal Revenue Service (IRS) is warning consumers of a new tax scam that mimics its e-Services online registration page on its website, www.irs.gov. The actual IRS e-Services page offers Web-based products for tax preparers, not the general public. The phony web page looks almost identical to the real one, said the IRS, which added it receives many reports of fake websites like this. "Criminals use these sites to lure people into providing personal and financial information that may be used to steal the victim's money or identity, said the alert. Credit unions can remind their members that IRS' official site address ends in .gov--not in .com, .net, .org, or other designations …
  • ST. LOUIS (11/19/12)--Suspicious staffers at a credit union in St. Louis helped foil a scam after a woman allegedly tried to cash a dead man's tax refund check by posing as the man's representative, said the St. Louis Post-Dispatch (Nov. 3). Patrina Rochelle Taylor, 44, of Creve Coeur was charged in the incident. The report did not name the credit union. The $7,497 check was issued to an "Ann Hoang" as a personal representative of "Billy Mobley." Both Hoang and Mobley are deceased, according to Internal Revenue Service (IRS) databases. Authorities believe the incident may be linked to a scheme in which dozens of returns worth hundreds of thousands of dollars in refunds were filed under the names of recently deceased people. IRS is warning financial institutions and businesses to beware of people trying to cash Treasury checks payable to someone else or who engage in suspicious activity. Last year, about 940,000 returns used identity theft to claim or try to claim roughly $6.5 billion in refunds. Law enforcement authorities have filed charges against several groups operating similar schemes …
  • MONROE, Mich. (11/19/12)--Sharon Broadway, 61, of Toledo, Ohio, pleaded not guilty Thursday to embezzlement and racketeering stemming from the theft of $2.1 million from United Catholic CU in Temperance, Mich. Broadway was the manager, secretary, board member and sole employee of the credit union, which was closed on Aug. 9. The National Credit Union Administration was appointed as receiver. The embezzlements allegedly occurred since 1985 under a complex money laundering scheme involving multiple aliases and forged checks to hide the thefts. Broadway is accused of using the money as personal funds. The theft was discovered during a routine examination by the Michigan Office of Financial and Insurance Regulation, said a Toledo newspaper (The Blade Nov. 16). News of the charges prompted the Michigan Credit Union League to reassure members and the public. "Members of credit unions across Michigan should rest assured that their money is safe and sound, and that credit unions are well-run, sophisticated financial institutions that typically have adequate checks and balances to avoid this type of event," said Michigan Credit Union League & Affiliates CEO David Adams. "Credit unions and regulators go to great lengths to ensure that proper safeguards are in place so our members' money is safe. Our association stands ready to assist authorities in any way we can to get to the bottom of this incident, which is an aberration, and to ensure that it doesn't happen again."  …
  • PORTLAND, Maine (11/19/12)--Robert Walker, long-time manager/treasurer Monmouth (Maine) FCU, died last week at the age of 92, according to the Maine Credit Union League (Weekly Update Nov. 16). He spent 50 years serving the credit union, including 30 years as manager. After he retired, he served on the credit union's board of directors. He also served on the league's board. In 2009, he received the Alexander Ferguson Award for Outstanding Credit Union Volunteer. In 2002, Monmouth FCU's new facility was dedicated to Walker and his wife, Jean, and named the Walker Building …


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