Tuesday, December 17, 2013
(GMT-05:00) Eastern Time (US & Canada)
Identity theft continues to be a serious problem for the financial services industry; however, there is good news in that the number of victims decreased 28% to 8.1 million according to the 2011 identity theft survey by Javelin Strategy and Research. Losses have also decreased from $56 billion to $37 billion. One explanation for the decrease is the drop in reported data breaches, which involve batches of consumers’ personal information being compromised. However, the information-rich financial services industry continues to be the number one target for data thieves in terms of the number of breaches and the number of compromised records. Credit unions should remain vigilant in protecting against identity theft. This session will include a discussion on the following:
Identity theft and data breach statistics;
Key red flags to look for in the new accounts and lending areas;
Important steps to resolve red flags detected; and,
Loss case studies
Speaker: Ken Otsuka is a Risk Manager in the Credit Union Protection Risk Management Department for CUNA Mutual Group. In this role, Ken assists credit unions in identifying areas of risk in their operations and recommends best practices to reduce loss exposure. He also provides training for credit union employees. He is based in Chicago, Illinois.
Ken joined Risk Management in 1990 after spending eight years as an auditor at another insurance company.
A graduate of Northern Illinois University, Ken earned a Bachelor’s Degree in accounting and a Certified Public Accountant designation in 1982.
Location: Via Telephone
Time: 11:00 am - 12:00 pm EST
Educational Investment: $109.00 per telephone connection. Unlimited Listeners and Free Audio Archive
****You must be registered for this session to hear the audio-recorded version and receive handouts.****
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