CU Pacific Audit Solutions

s and failures of character, demands that procedures and practices be established to preclude the possibility of any employee fraud. The reputation damage suffered when credit union members lose confidence that their money is safe is immeasurable. The survival of the credit union industry depends upon it! Unemployment is at an all time high and employee theft and embezzlement is on the rise

The amount taken from fraud /embezzlement is typically 20x more than the amount in a robbery

Organizations lose an approximate $652 billion per year due to employee theft. The median loss in the banking industry is $258,000 per scheme

CUNA Mutual reported that Employee Dishonesty claims are up 15% over last year
Over the past 2 years, CU Pacific has investigated close to $500,000 in fraud from Credit Unions

Anonymous fraud reporting systems and employee fraud training are the 2 most effective means of controlling employee dishonesty