Insider fraud schemes at three banks in Minnesota, Texas and California illustrate just how difficult it is for institutions to thwart inside jobs. So what steps should banks take to mitigate their risk?
An attorney, mortgage broker, loan processor and loan originator have been indicted for the roles they allegedly played in a fraud scheme involving at least 35 mortgage loans worth more than $16.2 million.
"You need to educate people, and you need to have the right control procedures in place to ensure that people are aware of insider fraud," says Larry Ponemon, offering tips to reduce insider risks.
In an interview about the insider threat, Ponemon discusses:
Key findings from this new research;
What needs to be...