MADISON, Wis. (2/9/10)--CUNA Mutual Group will host a webinar Wednesday to help credit unions improve their risk management skills and lessen potential fraud losses. The webinar, scheduled for 10 a.m. CT, will be hosted by Ann Davidson and Ken Otsuka, CUNA Mutual risk managers. They will identify:
* The latest automated clearinghouse (ACH) and wire transfer fraud warning signs; * How credit unions can implement loss mitigation techniques to protect themselves and their members; * Regulations that govern wire and ACH transfer transactions; and * How liability is assigned.
About 1,000 CUNA Mutual policyholder credit unions have enrolled so far. A surge of ACH fraud committed by criminals stealing online banking credentials of small and midsize businesses resulted in about $100 million in attempted losses through the first 10 months of 2009, according to Federal Bureau of Investigation statistics. Webinar registration is available in the Protection Resource Center at http://www.cunamutual.com/CUProtectionWebinars
, or by contacting the Credit Union Protection Response Center at 800-637-2676. A user ID and password are required to access the Protection Resource Center and register.