Financial Services Industry
Industry: Email Alert RSS FeedWho Wants Cash When They Can Steal Account Info, IDs?
Credit Union Journal, The, June, 2007
Credit unions were warned that technology is being felt in another area-it's changing the face of robbery, extortion and kidnapping.
Credit unions need to guard against these new exposures and have a plan to guide them before, during and after such crimes, according to Michael Petrone, CUNA Mutual Group risk manager, and Tom Lyons, VP-security with Navy Federal Credit Union, who have 35 years of combined experience in risk management.
Petrone and Lyons spoke to CUNA Mutual Discovery Conference here. According to both experts, while cash used to be the motivator, today crooks understand stealing account data can be more profitable over the long run.
"Criminals also recognize they no longer have to victimize senior management to get what they want. They can...
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