Adequate Controls in Place?

The FDIC shared a Department of Justice report on a credit union employee, and her on-line boyfriend, Phillip Cook, fraudulently obtaining more than 30 lines of credit worth over $2.6 million.  The employee, Indira Mohabir, was a business loan processor at Western Federal Credit Union, and opened lines of credit without necessary oversight and approval from the credit union.  “In exchange … Read More