Fraud is any intentional act or omission designed to deceive others, resulting in the victim suffering a loss and/or the perpetrator achieving a gain.”1 Fraud can be perpetrated by individuals associated with the credit union, such as a credit union employee, official, third party, credit union member, or some combination of these individuals working together. This is considered insider fraud. An individual or entity unconnected to the credit union may commit fraud against the credit union, which is considered external fraud.
This chapter of the Examiner's Guide includes the following sections:
- Internal Fraud
- External Fraud
- Primary Risks
- Risk Management
- Deterring Fraud
- Detecting Fraud
- Workpapers & Resources
Last updated on May 01, 2023
