2.64 Red Flags: CU*BASE Tools & Other Considerations

Supervisory / Management

Summary

Personal Identity verification is critical to your credit union operation.  Expanding requirements in areas of identification have prompted the development of CU*BASE tools to level the rising burden of complience.  This class introduces procedures your staff can adopt in relation to the fully integrated Experian AS Level 1-Identification Verification.  Through instruction and dicussion you will learn about potential Red Flags, performing due diligence on your membership database as well as potential members.  Examine best practices for monitoring transactions and other account activities.

Audience

Security Officers, Member Service Representatives

Objectives

By the completion of this course, students will have:

  • Explored the Experian AS Level 1 software
  • Reviewed the standard Red Flags
  • Discussed internal procedures for monitoring accounts and activities
  • Reviewed areas typically vulnerable to suspicious activity
  • Investigated policies and procedures your credit union should adopt to guard against Red Flag activity
  • Exported the CU*BASE Red Flags Tool Box

Topics

  • Experian AS Level 1 features
  • Internal procedures to set standards for handling potential Red Flag activity
  • CU*BASE menu options related to account monitoring
  •  Identifying and handling inconsistent patterns of account activity
  • CU*BASE Red Flags Tools

       o        Detecting unauthorized account access

       o        Fraudulent activity

       o        Identifying inconsistent information

  • Establishing best practices for due diligence operations
  • Using Internet resources and other miscellaneous compliance tools

Course Schedule

Future times and dates are to be determined.