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LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
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TOM SAKASHSTAFF NEWSWRITER

Products Archive

Products

New certification ready for security fraud prevention pros

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MADISON, Wis. (5/20/08)--Security and fraud prevention professionals can verfiy their ability to secure the safety of their credit unions through the new CUNA Security Certification School, Sept. 21-26 in Seattle. General sessions, presented by the Credit Union National Association, will overview security and compliance issues, information technology and facility security, electronic fraud, and current fraud trends and future threats. There are two tracks of breakout sessions--one for security and fraud experts, and the other for security technology experts--to explore topics critical to the learners’ areas of expertise. Two certification options are available for attendees wanting to pursue the credentials:
* Credit Union Security and Fraud Expert Certification (SFE)--designed for staff responsible for credit union facility security and fraud issues; and * Credit Union Security Technology Expert Certification (STE)--created for those accountable for the development and implementation of security procedures and practices that guard credit unions from intrusions and threats.
On-site testing will be provided for attendees who wish to obtain either certification. For more information, use the link.

Products and Services briefs (05/19/2008)

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* BROOKFIELD, Wis. (5/20/08)--NetEconomy, a business unit of Fiserv, announced that it has been ranked as a top-selling provider of global anti-money laundering (AML) solutions by IBS Publishing. The top-selling solution in 2007, NetEconomy’s AML Compliance Manager, combines transaction monitoring, list checking, risk scoring, case management and automated reporting. IBS’ list demonstrates which systems and markets are most popular ... * BROOKFIELD, Wis. (5/20/08)--Fiserv announced the CheckFree FraudNet automated fraud detection and case management system blocked more than 21,000 attempted fraudulent bill payment transactions totaling $287.9 million since the service went live in November 2005. FraudNet provides protection for 462 financial institutions, and PSCU Financial Services, a credit union service organization. FraudNet saved PSCU $203,000 in attempted fraudulent online bill payments. Fiserv provides information management and electronic commerce systems for financial institutions including credit unions ... * SAN DIEGO (5/20/08)--Compliance Coach Inc., a provider of automated regulatory compliance solutions, announced that it has identified 23 new identity theft red flags and has updated its software, CompliancePal. Federal regulation imposes new responsibilities on businesses to prevent identity theft, impacting financial institutions such as credit unions, the company said in a release. The compliance deadline is Nov. 1. Failure to comply can lead to civil money penalty for each violation. Compliance Pal is Web-based and provides users with a risk assessment, red flags map, a written program, training materials and a compliance status report ...

Southeast Corporate image capture pilot a success

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TALLAHASSEE, Fla. (5/20/08)--Southeast Corporate FCU's Virtual Deposit Merchant Capture, which lets businesses make deposits remotely into a credit union account, has undergone a successful pilot with Florida Telco CU, Jacksonville, the corporate announced Monday. The $450 million asset Florida Telco and one of its business members, a carpet cleaning company, are piloting the product and are live with Merchant Capture. "We installed a check scanner at the carpet cleaning company's headquarters," said David Marovich, business account officer at the credit union. "Our member was making a 20-mile round trip to make daily deposits at the nearest Florida Telco branch. The owner drives a Ford Expedition, and she is excited about how much she is saving on gas, let alone time," Marovich added. Business members can scan their checks for deposit at their place of business with scanners. The check images are then transmitted through Southeast's secure Web-based product. The deposits go into a separate account. Then the credit union retrieves, reviews and posts them to the member's account, Marovich said. "So far things have gone smoothly and our member loves it." He has a waiting list of businesses interested in the service. One, a medical supply company run by three women, is located in a questionable neighborhood, he said. They won't have to leave the office to make deposits. Marovich noted that the remote deposits also cost the credit union less to process.