MADISON, Wis. (5/20/09)--Credit unions can learn the appropriate steps to detect and respond to identity theft red flags with an upcoming new release in the Credit Union National Association’s (CUNA) series of on-demand training for credit union staff and managers. Identity Theft: Red Flags Training on Demand helps credit unions ensure they have policies and procedures to appropriately respond to red flags to prevent and mitigate identity theft. The course explains the relationship among the Fair and Accurate Credit Transaction Act of 2003 (FACTA), new regulations regarding red flags, and steps the credit union must take to comply. Each downloadable Training on Demand package consists of a 30-45 minute video-like training presentation, printable workbooks and five online exams for testing. The presentations can be saved to a computer, DVD, or USB for unlimited use. CUNA plans to expand its library of Training on Demand for staff and managers with several additional titles throughout the year, including:
* Plastic Card Fraud--outlines the common schemes involving card fraud and provides advice to help credit unions educate and protect their members; * Right to Financial Privacy Act--provides an overview of the background and requirements of the Right to Financial Privacy Act, which requires government agencies to provide notice and opportunity to object before requiring a financial institution to disclose personal financial information to a government agency, usually for law enforcement purposes; * Balancing the Drawer--introduces cash-handling techniques for an organized cash drawer, methods for counting and strapping cash, cash drawer balancing basics, and methods for avoiding typical balancing errors. Internal controls and applicable federal fraud protection laws also are covered; * Loss Mitigation--provides expertise on the importance of loss mitigation and how it can be mutually beneficial to credit unions and members; * ACH Compliance and IAT Implementation--explains the new International ACH Transaction (IAT) rules from the National Automated Clearing House (ACH) Association that allow credit unions to identify all international payments flowing through the ACH Network. In addition to the new rules, which take effect Sept. 18, the course examines IAT’s relationship to the Office of Foreign Asset Control and the measures credit unions must take to comply; * Avoiding False Identification, Counterfeiting, and Other Scams--helps credit unions identify and prevent major losses related to false identification, counterfeit items and other scams; and * The Credit Union Difference--reveals the distinct advantages that credit unions offer over other financial institutions. The session helps participants better understand the credit union difference, the “people helping people” philosophy, the reasons for credit unions’ tax-exempt status, and the unique membership rights.
For more information, use the links.