Enhanced Fraud Detection + Effective Fraud Deterrent

= Governance Best Practice




Suspicious Activity Reporting
PMYCU.com was founded based on a belief that your employees should serve as a first line of defense against fraud because they have great insight into control weaknesses often overlooked by management.  Leveraging your internal control framework by “deputizing” your staff provides an additional layer of protection for your credit union and will help in strengthening internal controls to achieve your governance objectives.

PMYCU provides a multi-communication channel approach for employees to report suspicious activity, or to report critical internal control weaknesses, including:

  • Internet based reporting
  • 24/7 telephonic reporting

Once a report is submitted by an employee, your credit union has the comfort of knowing that industry veteran Mike Sacher will be involved in reviewing the information obtained, and making recommendations to the appropriate credit union representative for further follow up. You might consider supercharging the effectiveness of our services by offering a financial reward for any tip provided that leads to the identification of actual fraud or abuse. Or, consider offering a periodic award for the best internal control recommendation made by the staff.

Suspicious Activity Investigation
If suspected fraud or abuse is reported by one of your employees, PMYCU.com stands ready to provide oversight into the investigation of the matter. We can assist with documenting your bond claim, reviewing internal controls and guiding management and the Supervisory Committee to improving the governance framework of your credit union.

Educational Services
Education of your staff on their responsibility to report fraud, and the tell tale signs of fraud is critical to an effective control environment. PMYCU.com will provide educational materials to help inform your staff of the critical role they play in protecting your credit union.