The # 1 strategy to protect against the rogue credit union employee

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Michele Dowis and Robin ReminesRegardless of the size of the Information Technology Team in your Credit Union – knowledge base and duties differ for everyone. You may have some team members that have “access to everything”. Without, separation of duties (requiring more than one person to complete particular tasks creating an internal control), that team is considered vulnerable or at risk of becoming an insider threat!What is an “insider threat”? It’s a threat to your credit union from within your organization. Employees, former employees, contractors and your coworkers who have information regarding security practices, data and the computer systems. The threat could involve fraud, theft of confidential information or even intentional service disruption of computer systems. These insiders may have accounts, access to computer systems, know the timing of processes and transaction posting, and any other details that make it easier to sidestep security controls of which they are aware. Any attempt could be for personal gain but could also be shared externally possibly creating a data breach.There’s an inherent trust that we place on our IT Teams. (As well there should be!) But, just like our front office employees who handle money,what happens if someone on that team isn’t as honest as you thought in the hiring process? We don’t want to go into those negative ways of thinking because it makes us uncomfortable. But let’s face it – money is insurable where data/reputation are not. So how do we protect against this threat?Separation of duties is the logical response in mitigating this risk and is discussed as a necessary strategy in the FFIEC IT Handbook.  Protect your IT Team just like you do your tellers. You have dual control processes in place for cash, opening the branch and other high risk functions. Why not create similar controls over the actual systems? DATA/MEMBER Information is far more valuable that money. Money is insurable and replaceable – your credit union reputation isn’t! continue reading »last_img read more

Atletico de Kolkata to start football academy

first_imgDefending Indian Super League (ISL) champions Atletico de Kolkata (ATK) are planning to start a football academy, the franchise’s Chief Executive Officer (CEO) Subrata Talukdar said on Wednesday.”We are presently planning to have a football academy, so we would want the corporate houses to come forward and support us,” Talukdar told reporters here.The team will be arriving in the city on Thursday after pre-season training in Spain, but they face a situation where they would not be able to practice at their home ground, Salt Lake Stadium, as it is still being prepared.”The Salt Lake Stadium ground is still not ready and we don’t want to damage it before the season starts. So we are considering practicing at the Barasat Stadium, but then the surface there, is of astro turf. We have to wait and see what the coach tells us. We have also had a word with Mohun Bagan, if need be we can practice there,” the CEO said.Also read: Delhi Dynamos to play against Danish side Vikings”We also have the Salt Lake municipal ground on our minds but then it is an open ground and there can be problems relating to security. But hopefully we will be able to practice two-three days on the surface at Salt Lake stadium to get accustomed before the start of the league.”On Thursday, SRMB-steel manufacturers and construction company extended their sponsorship deal with the club and will have their logo on the ATK jersey this time around.advertisementSpeaking on it, SRMB director Ashish Beriwala said: “We are proud to have been with ATK for the second year running. Hopefully we will retain the title.”Asked about the team, Atletico co-owner Utsav Parekh said: “Our coach has said we have a better team this time, we have created an outfit that can go through to the final.””In the coming years, the ISL will be able to compete with cricket and the IPL (Indian Premier League),” Parekh added, referring to the craze the league has generated in the country.Talukdar added that the city has been able to send 10 boys to the Reliance Academy from the 24 that were selected last year.last_img read more