Links in “Compliance Tips”

Does your staff understand that a seemingly casual conversation with a member could potentially lead to a claim of discrimination? The example provided in this article has likely occurred in your credit union.

A journal called Supervisory Insights, released today through FDIC, contains several helpful articles about subjects ranging from managing regulatory responsibilities to matters requiring board attention. The publication also creates a "forum" where industry members can discuss regulations, policies, best practices, and emerging issues.  [7/30/14]

What do Batman and your compliance officer have in common? Well, quite a lot, according to AffirmX's Dennis Agle. He explains how outsourced compliance solutions enhance, not replace, your compliance officer. [7/29/14]

Recently, NACHA (The Electronic Payments Association that was formerly called the National Automated Clearing House Association) released a new document called the Sound Business Practices for Evaluating Customer Risk. AffirmX’s Senior Analyst Coppelia Padgett gives us an overview of this important new guidance.

The FFIEC has launched a webpage to act as a repository for materials related to cybersecurity. Along with the launch of the website, a pilot program is also underway, which will involve 500 community institutions. The pilot program and webpage will both aid the FFIEC in providing guidance and recommendations to applicable institutions. [7/25/14]

Employee fraud has led to $311.4 million in losses in the past three years. To help limit insider fraud NCUA has released a series of videos that can be viewed on the NCUA YouTube channel. [7/24/14]

AdvisX President Ken Agle describes three common errors found during AML validations and what institutions should do to fix them (before and after validation). [7/22/14]

Survey finds that 44% of consumers don't recall receiving any guidance or tips from their banks fraud protection measures. [7/22/14]

Weak passwords, typically from bank employees who use easy-to-guess passwords, is still the top security threat for banks. Here's a rundown of the top three security threats and what to do about them. [7/21/14]

The effectiveness of an institution’s Bank Secrecy Act program hinges on the accuracy of its anti-money laundering monitoring system. AdvisX’s President Ken Agle shares three common errors he sees when conducting AML validations for financial institutions across the country. [7/18/14]