A Recovering American Soldier

When doing your Christmas cards this year, take one card and send it to this address. If we pass this on and everyone sends one card, think of how many cards these wonderful special people who have sacrificed so much would get.

When you are making out your Christmas card list this year, please include the following:

A Recovering American Soldier
c/o Walter Reed Army Medical Center
6900 Georgia Avenue, NW
Washington,D.C. 20307-5001

If you approve, please pass it on.

If for some reason you don't do Christmas, just send a thank you card during this time of the season to thank these fine men and women who have sacrificed so much for you to have the privilege to live in American and be free to choose how you want to live and worship!

Scammers take advantage of financial crisis, holiday

Scammers are taking advantage of the financial crisis and may earmark the upcoming holidays by launching new attacks to steal personal information for possible fraud.

According to the Wisconsin Credit Union League, consumers should be wary of e-mails or ads that ask them to update, validate or confirm account information (Wisconsin State Journal Nov. 14). Credit unions can help get the word out to their members about these claims.

One claim says that a company recently acquired the recipient's mortgage and asks for an update of personal information, the league said.

UW CU, Madison, Wis., warned its members about a "secret shopper" scam that sends recipients fake checks for consumer research and asks the recipients to deposit the checks and wire the money.

Members can expect more scams to take advantage of the holidays, similar to one that occurred last Thanksgiving Day in Manitowoc County, Wis., said the league.

That scam--timed to occur when financial institutions are closed--dialed 40,000 area residents and got 20,000 people to answer the phone. It claimed the recipients' bank account was frozen, provided a toll-free number to call to reinstate it and asked the recipients to verify their personal information.

U.S. ATMs: On the Decline or Poised for a New Wave of Growth

Banks continue to seek new ways to extract value from, and provide value through, their investments in ATM technology. This article explores how the ATM’s history can guide its future, steering us toward the next wave of innovation and growth in the United States.

Twelve years after the advent of surcharging in the U.S., the promise of increased profitability has largely evaporated for financial institutions and for all but the largest, most efficient ISOs. While some high volume ATM locations are profitable, many are not. However, this does not suggest the death of the ATM channel. What it means is that we are returning to a holistic view of the bank-consumer relationship, where the ATM is just one element of the customer experience, and where channel profitability is judged not on a transaction basis, but on a long-term relationship basis. In other words, a return to the prevailing view of the ATM in the early 1990s and before.

We believe the next big ATM opportunity in the U.S. is not in added services for existing users, but in new services for new users in new locations. In one such scenario, the next generation of ATM may not be an ATM as we know it, but a financial service station for a new group of consumers with limited or no banking relationships or experience.

Read the entire article at: http://www.edgardunn.com/uploads/100030_english/100307.pdf

Laptops stolen from auditors may have members' info

Two Oregon credit unions have notified members that laptops stolen from outside auditors may have contained their names, account numbers and balances for certain types of deposit accounts but not critically sensitive information.

OnPoint Community CU, based in Portland, said a laptop that belonged to a Michigan-based auditing firm was stolen after the auditors left the office of OnPoint Community CU on Oct. 29. OnPoint Community President/CEO Robert A. Stuart told members about the theft in a letter to members posted Nov. 4 on its website.

And local media in Eugene, Ore., reported that Oregon Community CU, based in Eugene, sent out similar letters last week to members informing them that laptops had been stolen from auditors after they left the credit union for a required audit, also on Oct. 29 (KMTR.com Nov. 14).

The auditors could not confirm they deleted all OnPoint information from the laptop before leaving the offices, as required by OnPoint policy, Stuart said. "Because of this uncertainty, we are taking a number of precautions, including proactively notifying our members," he said.

He noted the information did not include any credit card information, debit card information or passwords. It also did not include any Social Security numbers, taxpayer ID numbers, birthdates or other information typically used in identity theft.

Symitar Uses Video for Users Comments

For nearly 25 years, Symitar has relied on client endorsements as their primary sales tools. After all, what can possibly speak louder about the quality of products and service standards than a satisfied client? That's why as a rule, the company provides their entire client list to new prospects, rather than just a select few "reference" clients.

You can check out users video comments at: http://www.cu-tube.com/

Biometrics Penetrating Consumer Markets, Says ABI Research

Long the domain of government and law enforcement agencies, biometric systems are increasingly moving into the market for personal data management and security. Laptops, mobile phones, storage drives and other personal devices will increasingly include biometric options to provide an additional layer of access security.

The combined growth in both government, law enforcement and private sectors for biometrics will drive spending on biometrics systems over the next five years up to $7.3 billion by 2013, up from around $3 billion in 2008.

Complete article at: http://www.centredaily.com/business/technology/story/963701.html

Insufficient Funds

Why do banks and credit unions charge a fee on 'insufficient funds' when they already know there is not enough money?

ZabaSearch - Search public information for people, phone numbers, ip addresses, and more for free

If you need to find some information on a person, such as previous addresses or if you need to look up the address for a phone number, then ZabaSearch is one place you can go to find this type of information for free. The key here being that it’s free. Most of the other sites that have people search, such as WhitePages, just tell you that they found the name, but don’t give you any other information unless you buy their service.

I searched my name on ZabaSearch and it popped up with all of addresses that I have lived in for the last five years! That’s impressive considering I don’t actually have my own place as of yet. And that’s not it! It also gave me the year and month I was born, and my home phone number! You might find this like a breach of privacy, but all of this information is publicly available and that’s why ZabaSearch is able to bring it up.
http://WWW.zabasearch.com

Malware steals log-on data to accounts

The log-ons to more than a half million bank, credit and debit card accounts have been stolen over the past two-and-a-half years by a single cyber crime group using a Trojan horse spyware that "morphs" to avoid detection.

Researchers at RSA Security Inc.'s FraudAction Research Lab discovered the stolen data while they were tracking the Sinowal Trojan horse, also known as Mebroot and Torpig. They tracked the spyware to a drop server that contained the stolen data (Computerworld Oct. 31).

RSA investigators found more than 270,000 online banking account credentials, plus about 240,000 credit and debit account numbers and other personal information lifted from Microsoft Windows PCs (WashingtonPost.com Oct. 31).

The Trojan horse malware has been active since at least February 2006. Once on a system, the malware waits for the user to enter the address to an online bank, credit card company site or another financial URL. It then substitutes a fake address. The malware is triggered by more than 2,700 specific Web addresses, a much larger number than other Trojan horses.

The fake sites collect the log-on usernames and passwords to banks and other financial institutions. They trick users into disclosing information legitimate financial institutions would never collect online, such as Social Security numbers. They transmit the pilfered data to the drop server.

RSA Security said it suspected the group responsible is based in Russia. The malware was distributed globally, but Russia was the one region that had no infections.

Fly Naked

Fly naked, redux: Now there are fears that women will wear exploding bras, set to go off when they are frisked.

Scotland Yard has sent details of the bombs - which are primed to go off as the wearer is frisked by security staff - to all the major airports, including busy Heathrow and Gatwick.

The memo warns one suicide bomber in Colombo, Sri Lanka, killed herself and four police officers. "The device exploded as the attacker was being searched by two female constables," it says. "The police have determined she was wearing an improvised explosives-laden bra wired to detonate if tampered with." ....

One anti-terrorist officer said: "It may sound a little silly but you can't take anything for granted these days."

The bombers lull officers into a false sense of security by showing their bare midriff to prove they are not wearing a "bomb jacket" - but then the bra explodes.If this weren't so sick and so real, it'd be a straightline with so many punchlines.

Back in December 2001, when a jerk tried to blow up a plane with a bomb in his shoe, some said the only solution is to fly naked.

Some people feel this may be a booby trap.

Tech support: What kind of computer do you have?

Female customer:
A white one...
===============

Customer: Hi, this is Maureen. I can't get my diskette out.
Tech support: Have you tried pushing the Button?
Customer: Yes, sure, it's really stuck.
Tech support: That doesn't sound good; I'll make a note.
Customer: No , wait a minute... I hadn't inserted it yet... it's still on my desk... sorry....
===============

Tech support: Click on the 'my computer' icon on to the left of the screen.
Customer: Your left or my left?
===============

Tech support: Good day. How may I help you?
Male customer: Hello... I can't print.
Tech support: Would you click on 'start' for me and...
Customer: Listen pal; don't start getting technical on me! I'm not Bill Gates.
===============

Customer: Hi, good afternoon, this is Martha, I can't print. Every time I try, it says 'Can't find printer'. I've even lifted the printer and placed it in front of the monitor, but the computer still says he can't find it...
============== =

Customer: I have problems printing in red...
Tech support: Do you have a colour printer?
Customer: Aaaah....................thank you.
===============

Tech support: What's on your monitor now, ma'am?
Customer: A teddy bear my boyfriend bought for me at Woolies.
===============

Customer: My keyboard is not working anymore.
Tech support: Are you sure it's plugged into the computer?
Customer: No. I can't get behind the computer.
Tech support: Pick up your keyboard and walk 10 paces back.
Customer: ! OK
Tech support: Did the keyboard come with you?
Customer: Yes
Tech support: That means the keyboard is not plugged in. Is there another keyboard?
Customer: Yes, there's another one here. Ah...that one does work...
===============

Tech support: Your password is the small letter 'a' as in apple, a capital letter V as n Victor, the number 7.
Customer: Is that 7 in capital letters ?
== =============

Customer: can't get on the Internet.
Tech support: Are you sure you used the right password?
Customer: Yes, I'm sure. I saw my colleague do it.
Tech support: Can you tell me what the password was?
Customer: Five stars.
===============

Tech support: What anti-virus program do you use?
Customer: Netscape.
Tech support: That's not an anti-virus program.
Customer: Oh, sorry...Internet Explorer.
===============

Customer: I have a huge problem. A friend has placed a screen saver on my computer, but every time I move the mouse, it disappears.
===============

Tech support: How may I help you?
Customer: I'm writing my first e-mail.
Tech support: OK, and what seems to be the problem?
Customer: Well, I have the letter 'a' in the address, but how do I get the circle around it?
===============

A woman customer called the Canon help desk with a problem with her printer.
Tech support: Are you running it under windows?
Customer: 'No, my desk is next to the door, but that is a good point.
The man sitting in the cubicle next to me is under a window, and his printer is working fine.'
===============

And last but not least...
Tech support: 'Okay Colin, let's press the control and escape keys at the same time. That brings up a task list in the middle of the screen.
Now type the letter 'P' to bring up the Program Manager.'
Customer: I don't have a P.
Tech support: On your keyboard, Colin.
Customer: What do you mean?
Tech support: 'P'.....on your keyboard, Colin.
Customer: I'M NOT GOING TO DO THAT!!

Google’s PDF Search Throws Some Light on the Dark Web

Google said on its official blog that it has developed optical character recognition technology to the point that its search engine can read any scanned document in Adobe’s PDF format, effectively turning scanned images into words that are searchable and indexable.

It’s no secret that Google has been looking into OCR; the Mountain View, Calif.-based company’s efforts to make books and newspapers digitally searchable are also related to its broader efforts to expand the parameters of search.

October 2008 News & Views Below

CU SECURITY & TECHNOLOGY News - Providing a brief summary of news and information related to security and technology issues for credit unions - Plus some interesting and fun web sites.(Click on photos to enlarge)

Security Solutions Available from CUNA

Security Solutions, a comprehensive suite of products and services and educational training and consulting that will help you foster a safer, more prepared credit union environment.

Physical Security
Keep your staff and members far out of harm’s way and prevent losses from physical damage, theft, and unauthorized access to critical equipment and documents.

Network Security
Keep your network operational and intruders or other dangers at bay, preserving the privacy, integrity, and availability of electronic data. Learn how to comply with applicable federal and state laws.

Fraud Prevention
Reduce your credit union's risk exposure and your members from identity theft and phishing exploits. Outsmart potential perpetrators, take heed of suspicious account activity, and follow other proactive measures to safeguard your members’ identity and your credit union’s intellectual property.

Business Continuity
Establish business continuity planning resources and a course of action that will accelerate your return to “business as usual” in the wake of a crisis. Understand how to test and update your plan to ensure its ever-lasting dependability.

Click here for more information: http://strategicservices.cuna.org/sec_solutions/csa_sec_solutions.html

Meet Bill Rogers at CU InfoTECH 2008

Meet Bill Rogers, Tom Glatt, Sr. and a host of others at CU InfoTECH 2008 in New Orleans. The dates are November 13-16 at the Monteleone Hotel in the French Quarter.

Yes, we will be talking biometric identification and hope to give you information overload on this technology. The program includes video clips from four credit unions using this technology for member and employee authentication.

The program is co-sponsored by CU Conferences and William Rogers & Associates.

For more information, visit: http://cuconferences.com/Tech08/default.htm

Do You Still Fall for These Email Hoaxes? Five Common Email Hoaxes

Friends don’t let friends fall for email hoaxes, right? Wrong! I get hoax emails from my friends all the time, and sometimes even I am tempted to believe them!

If you are as annoyed by these misinformed emails as I am, help is on the way. Here are some of the most common types of email hoaxes and several ways for you to check the credibility of the next suspicious email you get.

1. The Sick Kid Email Hoax: The names and diseases change, but the premise is basically the same. A young child, stricken with a horrible, fatal disease, wishes for everyone to pass the email along to friends, relatives, work buddies, distant acquaintances, etc. Usually the email says that each person sending it on causes a donation to be made to a charity or research facility so that the world will be eradicated of the disease in the future. Bottom line? There are no email tracking programs that will generate money at the click of the send button.

2. The Virus Email Hoax: Pass this on to everybody in your email address book! The “Insert latest virus name here” is going to crash your hard drive, cause you major headaches and cost you tons of money. Okay, reality check. Yes, real viruses can be nasty and expensive. But if your best plan for attack is to rely on your friends for a virus warning, you may have bigger problems.

3. The “True” Urban Legend Email Hoax: Is there such a thing as a true urban legend? Usually, no. Your helpful friends want you to be safe and informed, so they send you along the convincing stories warning against all kinds of different dire scenarios. Any of the following sound familiar? HIV needle in the phone booth/gas nozzle/movie theater. The poor sap that paid $250 for a cookie. The man who had his kidneys stolen. The person in the shopping mall parking lot waiting to spray you with perfume (which is really ether) so they can debilitate you and steal your cash.

4. Giveaways and Free Money Email Hoaxes: These are anything from the ones where you send the email on and sit back to wait for your free clothes/candy/money to appear, to the granddaddy of them all: the Nigerian Hoax Email Scam.

5. Chain Letter Emails: Okay, I admit, these are not dangerous, just annoying! You mean to tell me, if I don’t send emails on to at least 10 people, I am an antisocial creep destined to become a lonely elderly cat person? (And I love cats!) Please. I am embarrassed to send these silly letters on to my friends, which is why I never do.

So how do you find out if an email forward you’ve received is an email hoax? There are a number of good websites that will help you out. My personal favorite is http://www.truthorfiction.com/ I can click on the search box, enter in the title or key phrase in the email I have just received, and it will instantly give me the real scoop.

There are also other sites that offer good email hoax information: http://www.hoax-slayer.com/, http://www.vmyths.com/ for information on computer viruses, http://www.hoaxbusters.ciac.org/, and http://www.snopes.com/. These are just a few of the many sites containing information about hoaxes, myths, and urban legends.

Now, for the more delicate question. What do you do about all those friends who send this junk to you? Do you tell them the email is bogus? Quietly delete it? I, for one, don’t really want to make my friends feel stupid, so I usually quietly ignore the harmless or long-circulating ones. However, when I receive one that I think merits concern, I will usually send a link to one of the hoax sites so they can get the truth. Does it help? Well, I still get stupid forwarded emails. But at least I know I’ve done my part to educate a few people about not always believing what they read. I hope I’ve done my part to help you, too!

More resources Truth or Fiction: http://www.truthorfiction.com/ Hoax Slayer: http://www.hoax-slayer.com/ Hoaxbusters: http://www.hoaxbisters.ciac.org/

Do-Not-Call List Pros and Cons

Turns out you can add anyone's number to -- or remove anyone's number from -- the Canadian do-not-call list. You can also add (but not remove) numbers to the U.S. do-not-call list, though only up to three at a time, and you have to provide a valid e-mail address to confirm the addition.

Here's an idea. If you're a company, add every one of your customers to the list. That way, none of your competitors will be able to cold call them.

Another round of robo-call scams hit CUs

Credit unions in four states are reporting members and nonmembers have been hit with another round of e-mails and "robo-call" scams, aimed at tricking consumers out of their personal financial information. Click below for information:

http://www.cuna.org/newsnow/08/system102708-10.html?ref=hed

CUs + Biometrics = CU InfoTECH Conference

http://www.mydocsonline.com/pub/wrogers/CUTech08.gif
Biometric identification technology will be one of the key subjects discussed at the CU InfoTECH 2008 Conference set in New Orleans for November 13-16. Visit the conference website at: http://cuconferences.com/Tech08/FINAL%2008%20InfoTech%20Rough%206_24-Final.pdf
to learn how credit unions are using biometric ID for employee and member authentication.

..

FakeTV Burglar Deterrent Device

We're sure your home is a sanctuary for gadgets and electronics... problem is thieves love expensive 5.1 surround systems just as much as you do. So what happens when you need to leave your humble abode for several weeks while making an annual pilgrimage to Tokyo? Well your Mom would tell you to simply leave a TV on in an upstairs window to give your would-be burglars the impression you are at home. Problem is, leaving your 50 inch plasma display to burn-in for days on end is not a desirable solution either.

Luckily the FakeTV Burglar Deterrent Device has got your back. This small white box is only vaguely reminiscent of a TV, but it features a series of LED lights that glow to simulate the changing screen of a real TV. Put it behind some blinds or in an upstairs window and it creates the completely convincing effect of an active TV. Potential thieves will assume you are at home and instead choose to break into your neighbor's house and rip off their collection of old betamax VCRs.

For more information, visit: http://www.thinkgeek.com/gadgets/security/a8d6/

Major Discounts On-Line

Black Friday - the number one shopping day, the day after Thanksgiving - is just around the corner. You probably don't have time to scour all the deal sites every day but this is a good one to check out, NOW. Don't wait until the day before Thanksgiving. The Black Friday ads are excellent.
It also features discounts available only on-line, every day and not just on Black Friday.
http://blackfriday.gottadeal.com/

Black Friday Predictions for 2008

Having covered Black Friday extensively for the past five years, the site is in a better position than pretty much anyone else to offer predictions for this year. Over the years we've noticed trends in the deals offered by the major retailers and can offer a glimpse into what we believe will be the 2008 Black Friday deals and hot items. We'll also give you some predictions for the actual prices you'll see these items selling at this Black Friday based on our research.
http://blackfriday.gottadeal.com/BlackFridayPredictions

CU blogger notes female members' needs

Selling a woman on a credit union is like selling an entire household, according to a credit union blogger.

Mark Arnold, senior vice president of marketing at Neighborhood CU, Dallas, noted female credit union members' needs on CU Campus, an Internet-based tool developed by CU Village and launched by the Michigan Credit Union League.

Credit unions should connect women with their brand because they'll pass it along to friends.

"Women are three times more likely to recommend a brand or service they enjoy than men are," Arnold said. Credit unions also should offer retirement plans focused exclusively on women. Women are under-enrolled in retirement plans compared with men, he said.

"Women make almost 80% of the household buying decisions, comprise 59% of total college graduates and will control 60% of the wealth in the U.S. by 2010," Arnold added.

A 1969 perspective on computers in the future

Remember The Jetsons and how cool “the future” was supposed to be? This 1969 video shows the convenience of online shopping, banking, and an “electronic correspondence machine.” It shows a future with a passable resemblance to today.

http://blogs.techrepublic.com.com/classic-tech/?p=192

One of the most fun things about looking at how things used to be is looking at what people used to think “the future” would look like. This video is a case in point. Here we have a vision of home computing from the time the original Star Trek was on the air.

Today we do pretty much everything shown in this video, just a little differently. The dials and push buttons look quaint by today’s technological standards. It’s interesting to see flat screens, however, in an era that didn’t have TV tubes as large as the displays shown. The “electronic correspondence machine” is interesting in that it foreshadows the development of tablet PCs, a technology that still isn’t quite where it needs to be for mass adoption.

It’s interesting what the video says goes on in the background:

“To maintain these, and hundreds of complex electronic circuits, a monitor checks all circuits every few seconds, inserts a backup circuit if and when trouble develops, and alerts the Communal Service Agency for replacement.”

The images on the video suggest that they’re talking about physical circuits in the home computers, but I can’t figure out how they thought that would work. It’s much more analogous to the network connections that happen on the Internet between routers today. That may be more what they were suggesting.

Of the nontechnical aspects to the video, I thought it was interesting to notice the misogynistic aspect of it whereby the wife would do nothing but shop and watch the kids, while the husband did all the bills, banking, and correspondence from his workstation. And he did all this while holding his head and shaking it at his wife’s extravagance. I guess they didn’t expect culture to change much in the future even if the technology did.

What views of the future do you think we have today that we’ll look back on in 40 years and go “What were they THINKING?”

“Never doubt that a small group of thoughtful, committed citizens can change the world.

Indeed, it is the only thing that ever has.”
Margaret Mead

FBI posts photos of threat letter to financials

The Federal Bureau of Investigation (FBI), yesterday posted online photographs of one of more than 50 threatening letters mailed to financial institutions in 11 states.

In addition to a threatening message, most of the letters also contain a powder substance, according to a statement from the FBI. Field and laboratory tests on the powder so far have been negative, said the agency.

Financial institutions in New York, New Jersey, Washington, District of Columbia, Ohio, Illinois, Colorado, Oklahoma, Georgia, California and Texas have reported receiving the letters. The Federal Deposit Insurance Corp. and the Office of Thrift Supervision also received letters, according to the FBI.

The U.S. Postal Inspection Service is offering a reward of up to $100,000 for information leading to the arrest and conviction of the person(s) who prepared and mailed the letters, which were mailed from Texas and postmarked at Amarillo.

"Should your any part of your institution--corporate offices, branches--receive one of theses letters, please contact your local FBI office and ask for the WMD Coordinator," said the FBI.

FISOLV OFFERING INDIVIDUAL BUSSINESS IMPACT ANALYSIS AND RISK ASSESSMENT SERVICES

FISolv announced it is offering two additional services to financial institution to help build the Business Continuity Plan (BCP). FISolv now offers an individual Business Impact Analysis (BIA) and Risk Assessment independent of their complete BCP. FISolv will host informational webinars on the BIA and Risk Assessment.

Penny-pinching shoppers may get PC deals soon

Sales of personal computers didn't live up to expectations over the summer, and now analysts predict shoppers will cut spending even more drastically in the all-important holiday quarter.

So far, PC prices appear to be holding steady. But buyers may get better deals soon as computer companies try to avoid getting stuck with a pile of unsold inventory on Dec. 31.

Analyst Roger Kay of Endpoint Technologies said the unofficial start date for holiday PC promotions has crept earlier in recent years. This year, Kay said, computer makers are feeling panicky and wondering if they'll even make it through October without slashing prices.

PC makers generally reap thin profit margins, so don't expect prices to drop precipitously. In addition to whatever price cuts they do make, companies also are likely to offer more package deals that include free software or hardware add-ons to make more expensive machines look like a better deal. They may also rely on the age-old practice of luring shoppers with a low-end, cheaper configuration, but try hard to up-sell pricier, more powerful machines.

New Investment Plan

If you had purchased $1,000.00 of Nortel stock one year ago, it would now be worth $49.00.

With Lehman Brothers, you would have $1.65 left of the original $1,000.00.

With Wellman, you would have less than $0. 50 left.

If you had purchased Frontier, ATA, or Skybus Airlines, you would have nothing left.

But, if you had purchased $1,000.00 worth of beer one year ago, drank all the beer, then turned in the cans for the aluminum recycling refund, you would have $212.00.

Based on the above, the best current investment advice is to drink heavily and recycle. This is called the 401-Keg Plan.

Trying to increase productivity? Send your employees home

Companies that give their workers the option of telecommuting are seeing greater productivity, lower costs, improved employee health and greater employee retention, according to a survey released today by the Computing Technology Industry Association.

Case in point: I’m typing this from this from my own home office setup - a desk out in a corner of the garage where there’s a printer, a phone, some speakers (for my background tunes) and even a small TV with CNN on in the background. I’m still wearing the shorts and T-shirt I threw on this morning when I started the grind of getting the kids off to school. Since then, I’ve gone through my RSS-feed reader, answered a handful of e-mails and started writing this blog entry.

The upside for the boss: I started working as soon as I poured that first cup of coffee and haven’t really stopped since. The upside for me: I didn’t have to fill my tank, scrounge up some lunch money or even iron a shirt. And when the kids get home from school, I’ll be here. There’s no sitter to pay just to watch them do their homework.

Among the findings of the survey:

> 67 percent of the companies polled said employees were more productive, largely because they spent less time getting to and from work.

> 59 percent reported seeing cost savings from reduced use of office-related materials and resources.

> 39 percent said they have access to a more qualified staff, expanding their options to people who are located in - and not willing to relocate from - other regions. Likewise, 37 percent said telecommuting improved employee retention.

> 25 percent said employee health was improved, largely by reducing stress levels associated with the commute.

> Other benefits included promotion of safety through reduced highway use (18 percent) and environmental benefits (17 percent).
(Click on Graph to Enlarge)

Today’s tech tools - things like VPNs, WiFi hotspots, faster broadband connections and online and video conferencing services - have made telecommuting easier. My favorite tool: a virtual phone number from Google’s Grand Central service allows me to give my business contacts one phone number that simultaneously rings my home phone, office phone and cell phone so I never miss a call.

There are some downsides, though. Companies said that their challenges include: securing corporate information systems (53%), limiting use of unauthorized and unsupported devices (38%), and controlling personal use of corporate mobile assets (33%). To meet the challenges, companies have had to upgrade their networks and VPN equipment and expand security, training, and implementation of new virtualization technologies and applications.

For the employees, the biggest downside of being a telecommuter is that idea that you’re never really “off.” More often than not, I’ll give the boss another hour or two of work after dinner or just before bed - which can easily turn a 40-hour week into a 50-hour week. But I don’t mind.

For me, giving the company some extra work time is my way of saying thanks for the opportunity to stay off the freeway and be around to watch my kids grow up.

Financial Definitions I Never Knew

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistakehimself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance,the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as themarket keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assetsequally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

SUBPRIME MORTGAGE - A loan that allows you to buy a house in less thanprime condition for way above market value.

BAILOUT - What you do in the basement of a subprime house following thefirst rains after you move into it.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it disappears down thetoilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 pershare.

WINDOWS -- What you jump out of when you're the sucker who bought Yahoo@ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in anuthouse.

PROFIT -- An archaic word no longer in use.

Wal-Mart selects PayPal for online payments

The online division of US retailer Wal-Mart Stores accepts PayPal for online payments.

Wal-Mart is the world's largest public corporation by revenue, according to the 2008 Fortune Global 500 magazine. Walmart.com provides over 1 million products in its online store, including electronics, toys, home, garden, baby, sports products and more. Wal-Mart is the largest grocery retailer in the US, with an estimated 20 percent of the retail grocery and consumables business.

Walmart.com has a traffic rank of 247 in Alexa's most visited websites ranking. According to a US study released by Javelin Research & Strategy in September 2007, alternative payment methods, PayPal included, will increase to gain 30 percent of all online transaction volume by 2012, up from 14 percent in 2007. Consumers participating in the surveys consider alternative payment methods as trusted and viable method to pay for online purchases.

At present, PayPal processes almost USD 2,000 in payments every second.

September 2008 News & Views Below

CU SECURITY & TECHNOLOGY News - Providing a brief summary of news and information related to security and technology issues for credit unions - Plus some interesting and fun web sites.(Click on photos to enlarge)

Credit Union Technology Conference Set for New Orleans, November 13-15

Click on graphic to enlarge:

GEICO Credit Union Implements Biometric Access Control System

GEICO Federal Credit Union, headquartered in Chevy Chase, Maryland, recently purchased and implemented US Biometrics' AccessQ system for controlling physical access to various entrances with fingerprint biometrics. US Biometrics worked with GEICO to specify and implement the hardware and software system so as to biometrically control strategic entrances within their facility.

About The Products Implemented

> AccessQ biometric devices are a secure, convenient, and cost-effective alternative to badges or swipe cards. They offer levels of authorization for an individual wanting access through an entranceway and connect to the existing local area network which reduces installation costs.

> CentralQ software stores credentials including fingerprint profiles and employee information. It provides a mechanism for scheduling access based on authorization levels and the time of day.

> CentralQ Reporting allows administrators to view who accessed which devices at what time and provides some basic statistics about the system's usage.

For more info, visit:
http://www.centredaily.com/business/technology/story/870360.html

Large CU Execs Lobbying for CUNA-NAFCU Merger

It would be the credit union movement equivalent of the Boston Red Sox and New York Yankees joining forces. Saying that the credit union movement would be better represented with one voice, the CEOs of six large credit unions are urging the boards of CUNA and NAFCU to begin merger talks.

Two CUs report telephone scams

Two credit unions reported scams this week involving telephone calls, fraudulent e-mails and text messages to members and non-members.

St. Vrain Valley CU, Longmont, Colo., said members and non-members of the credit union reported fraudulent telephone calls from scammers attempting to obtain personal financial information. The area codes of 303, 720 and 970 are being targeted, the credit said on its website.

The calls claim to be from St. Vrain, saying recipients' cards have been suspended and inviting them to reactivate after they give out personal information.Polish National CU, Chicopee, Mass., also reported that fraudulent e-mails, text messages and telephone calls were sent to credit union members and non-members. The messages said that their accounts had been suspended due to a billing failure.

If the recipients responded to the e-mail, they were linked to a fake online banking site or given a phone number to call. They were asked to submit their credit card number and personal identification number to reactivate the account, the credit union said on its website.

ATM fraud poised for increase

Studies conducted by US risk management bodies point out that ATM debit card fraud is an ever-growing trend in the current economic climate, particularly since fraud detection software has improved credit card security and debit cards are currently seen as more readily available by fraudsters. To that effect, experts expect ATM skimming – which consists of installing a hidden device inside the machine itself to read and store all personal data which are then transferred onto cloned debit cards – to increase in the coming interval.

In the US, debit card fraud is made even more of a risk due to US federal regulations which limit cardholders’ liability for credit card fraud to UDS 50, while the same limit only applies to debit card frauds which are reported within 48 hours. Moreover, debit card fraud empties the victims’ checking accounts, causing a spiral of troubles such as missed payments and rejected checks.

The study in question points out that while ATM fraud is increasing and ATM fraud schemes are getting more creative, there is a positive consequence of the increase in ATM debit fraud, namely that banks are incurring growing losses as a result and are stepping up their ATM-safety measures. In other words, the banks’ previous outlook regarding debit card fraud as an acceptable business loss is changing, and a number of solutions are being put into place to increase debit cardholders’ protection. Among the measures mentioned by information-technology research and advisory company Gartner, which conducted the study, are replacing ATM PIN keypads with dialing devices or programming ATMs to react when they are being tampered with and automatically shut down.

Members, Customers Want More Non-Traditional Services, Survey Reveals

While members and bank customers are generally satisfied with their financial institutions, most prefer additional services such as financial planning and legal advice, according to a new survey.
Conducted by Coinstar Inc, in partnership with Kelton Research, a strategic services research firm, the survey showed that 67% of respondents said they still like the personal touch. Sixty-six percent said they would much rather stand in line for a teller than at an ATM.

When survey respondents were asked about using non-traditional banking services if offered by their financial institution, many liked the idea of one-stop shopping at their branch. Fifty percent said they would take advantage of financial or related services not traditionally provided by their branch if they were offered. Legal advice and financial planning were among the most desired.

Postal services, computer and printing services and self-service coin counting machines were also among the top non-traditional services requested. Other services of interest to respondents included a snack bar, Wi-Fi access, neck and shoulder massage, and even a supervised play area for children.

ATM fraud sweeps UAE: 42 percent of Dubai Bank clients affected by fraud

Dubai Bank announces that recent ATM fraud has hit over 40 percent of its customers. As a result, Dubai Bank temporarily blocked the international use of its ATM cards.

Such news comes after HSBC, Dubai Islamic Bank, Emirates NBD and National Bank of Abu Dhabi have also warned that some of their customers have been victims of ATM fraud. A HSBC Middle East spokesperson has stated that a significant number of fraudulent transactions have been stopped as a result of customers' changing their PIN numbers. Banks across the UAE have introduced new security measures and have urged customers to change debit and credit card codes after fraudsters used counterfeit cards to withdraw money from accounts.

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National Bank of Abu Dhabi (NBAD) is to refund any customer who has been a target for fraudsters who have made use of counterfeit cards to take cash from customer accounts within the last three days. Dubai Bank has already taken measures to verify and refund claims.

Are You Addicted to Your BlackBerry?

According to a survey of 6,500 executives, conducted for Sheraton Hotels and reported in the Daily News (9/15/08):

>> 85% of professionals feel compelled to be on call around the clock.

>> 85% occasionally get up in the middle of the night to check their e-mail.

>> 87% bring their BlackBerrys into the bedroom at night, and 84% check their e-mail right before going to sleep.

Barbara Ehrenreich, in her essay “The Cult of Busyness,” said that being busy has become the new status symbol, more than cars, homes, clothes, or money.

And although if I was a road warrior, I think I WOULD carry at least a cell phone and maybe a BlackBerry or wireless laptop, or both ….

I can’t help wandering if carrying all this mobile technology reflects a subtle or even unconscious desire to show off how busy or important we are to others (like not wanting to be the only business person not doing work on the airplane).

What wireless gadgets do YOU carry?

Do they really make you more productive?

Or make you feel more important (come on, admit it!)?

Do they add to or relieve stress?

CO-OP Poised to Make Significant Investment in CU's ATMs Signs

CO-OP Financial Services will invest millions of dollars over the next three years to help credit unions participating in its ATM network by branking their ATMs with a prominent CO-OP logo.
The CUSO has announced that it will pay up to $400 of the cost of adding the backlit signs on plastic displays for the walk-up machines or banner signs for some drive-up machines.

“Given that over 70% of network ATM volume occurs at credit union-owned ATM locations, helping members find the thousands of CO-OP Network surcharge-free ATMs nationwide boldly illustrates that credit unions have more ATMs than any bank,” said CO-OP Financial Services CEO Stan Hollen. “With CO-OP’s ATM signage program, credit unions display their logo side-by-side with CO-OP Network, reinforcing to members that they truly don’t need a bank.

Their credit union is not only better, but more convenient.”CO-OP is recommending that credit unions that accept the help on the signs put the CO-OP logo on the upper right corner of the sign, opposite a significantly larger credit union logo on the upper left.

More text messaging scams surface

More text-message scams aimed at draining consumers' accounts are being reported by credit unions in several states.

Here are reports from the latest wave of credit unions targeted by scams in Minnesota, Washington and Alabama:

>> SPIRE FCU, Falcon Heights, Minn., said consumers checking text messages on their cell phones were warned that their credit union accounts had been locked. They were told that they could fix the problem--by providing their account numbers. Once they give the numbers, the accounts can be drained by the scamsters (Pioneer Press Sept. 9).

>> Gesa CU, Richland, Wash., was the target of another text messaging scam, according to KNDO.com (Sept. 11). On Wednesday, six people in a sister station, KNDU, reported receiving the text messages, which asked them to call a number to protect their Gesa account. The report said police believe the texts are sent from Spain because money the scamsters have taken is sent there. Police noted the culprits are hard to track down because the Internet provider address used isn't from a physical location.

>> A credit union based in Bynum, Ala., was among several financial institutions in the state whose names were used in text messaging scams and e-mail and voicemail message scams (The Anniston Star Sept. 7).

In all cases, the financial institutions warned consumers not to answer the messages and to delete them. Financial institutions would never contact members or customers unsolicited and ask for account and other numbers.

Report Says Fake Fire Marshals Find Easy Pickings at CUs, Banks

Security specialists using network penetration, phishing, fake phone calls and simply walking in dressed like a fire marshal or exterminator were able to walk out of credit union and bank branches with sensitive data nearly every time, according to a new report.

TraceSecurity, a Baton Rouge-based provider of IT risk assessment and security compliance solutions to more than 800 banks and credit unions, said it found that 95% of the sensitive data behind those walls could have been robbed on average in 30 minutes or less, representing personal identities of tens of millions of consumers.

The company (www.tracesecurity.com) is basing its claim on its own experience over the past five years. The report said its results are from a core group of its own customers, ranging up to $2.7 billion in assets and located in 48 different states.

“It takes only one branch location for all customers' sensitive data to be at risk, and recent data breaches have shown these losses can amount to billions of dollars–a huge cost for what's usually a small, avoidable error," said Trace Security CTO and co-founder Jim Stickley.

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Boston Firefighters CU: E-MAIL "PHISHING" SCAM

Boston Firefighters Credit Union was recently the target of a phishing attack. The following is their message posted on their website.
==========================

Phishing is the practice of sending an email that appears to be from a financial institution with the goal of persuading online banking users to share sensitive information that can be used to commit fraud or identity theft.

The criminals that sent out this email copied our logo and imitated the "look and feel" of our messages to try and persuade online banking users that the email was genuine. we did NOT send this message.

If you responded to the message by sharing personal financial information, please contact us immediately by phone @ 617-288-2420. We will give you instructions for changing your password and taking other steps to protect your accounts.

Always remember that we will NEVER ask you to click on an email link to share sensitive financial information. Please notify us whenever you receive a suspicious email or have any other form of unsolicited contact from individuals seeking personal information about your accounts.

Click here to view the current phishing email.

FBI Warns of New Worm Virus

On Sept. 10, the FBI and its partner, the Internet Crime Complaint Center (IC3), warned against a new email campaign being used by the creators of the Storm worm botnet.

The email uses the phrase 'FBI vs. Facebook' in its subject line and contains a link to view an article about the FBI and Facebook, the popular social-networking website. Clicking on the link downloads malicious software onto the victim's computer.

"The spammers spreading this virus are preying on internet users and making their computers an unwitting part of criminal botnet activity," said the FBI in a press release. "We urge citizens to help prevent the spread of botnets by becoming web-savvy."

The FBI is warning users not to respond to spam email and not to open attachments or links provided within such email, and advising them to validate the legitimacy of the email by typing the organization’s website address directly into a browser window, rather than clicking on a provided link.

Don't take your passwords to the grave

Your survivors will have enough on their minds when you die, so take steps now to ensure it won't be a major trauma to access the financial accounts you keep online.

There's no question that online banking, electronic bill payment and personal-finance software make our lives easier. But could we be creating a digital mess for our heirs when we die?

One poster on the Your Money message board shared her family's trauma when her father died without divulging the passwords to his computer or online accounts.

"I am the co-executor of the trust and the most financially savvy of my siblings, so it was up to me to help mom. But what do you do without passwords?" poster Tuppermom asked. "And most companies don't just give you access -- it is a process that can take weeks and months (if they don't just say 'Oh -- he's deceased? OK, we'll close the account' and then NO ONE has access!!)."

Tuppermom's family got lucky when it stumbled upon a folder that contained passwords for some of her father's work-related accounts and one of his online banks. That provided enough clues to find and gain entry to most of his other accounts. The family's lawyers helped them get access to the rest, although the process took time.

The experience was so traumatic that Tuppermom and her family revised their own estate plans to include complete lists of online IDs and passwords for each of their accounts. Concern about identity theft and security, she wrote, shouldn't go so far that family members are left in the dark.

The family "learned that ID protection is not JUST about nobody knowing the passwords," Tuppermom wrote. "It is also about protecting the asset behind the password -- and making sure that if you can't access it, someone you trust can."

Revenge of the Techies

A new survey evidences all too well where the power can fall in enterprise IT relationships: into the not always well-intentioned hands of disgruntled employees.

Or in this case, into the hands of disgruntled exiting employees. The survey, put out by Cyber-Ark Software, a Newton, Mass. based provider of enterprise account security solutions, found that 88 percent of IT administrators, if laid off tomorrow, said they would take valuable and sensitive company information with them. They’d especially target CEO passwords, customer databases, research and development plans, financial reports, merger and acquisition plans and even the company’s list of privileged passwords.

Only 12 percent said they’d take the high road on their way out, leaving the “office supplies,” so to speak, intact.

I’d suspect at this point that most of you are of two minds: The vast majority of you are embarrassed that your profession is ever lumped in with this group, who are the kinds of unsavory characters that have business leaders questioning whether they need in-house IT departments at all, given what trouble they can be.

But the other portion–and hopefully, this is very few of you–might kinda understand where this type of spiteful behavior fits in. How do I know you’re out there? When I approached this topic for the first time last month on the heels of the virtual commandeering of the San Francisco municipal computer network by an unhappy former network engineer, in the Techie Hall of Shame, I received more than one comment and email which said, and I quote, that “a real coder wouldn’t have been caught.” The suggestion is that the failure of those in the Techie Hall of Shame was not, say, abusing their power but not doing it well enough that nobody caught them.

And although comments like these were a minute part of the responses, the fact that they were out there at all suggests that this type of entitlement and potentially rampant abuse of IT power, is alive and well out there.

Callahan Releases 2008 Tech Survey, Guide

The 2008 Technology Guide for Credit Unions is now available from Callahan & Associates (http://www.creditunions.com/).

This year’s two-volume book includes findings from a survey of 205 credit unions representing about 16% of the industry’s total assets and finds that two-thirds of credit unions are planning to spend more on technology next year than this year.

The first volume also looks at core processors, online transactions and e-branches. The second focuses on delivery channel investments, cards, branches and call centers.

For more information, contact Hunter Moss at (202) 223-3920, ext. 162, or hmoss@creditunions.com.

August 2008 News & Views Below

CU SECURITY & TECHNOLOGY News - Providing a brief summary of news and information related to security and technology issues for credit unions - Plus some interesting and fun web sites.(Click on photos to enlarge)

CU InfoTECH 2008

Coming

November 13-16, 2008

New Orleans, LA

CU InfoTECH 2008

A credit union conference for IT Professionals. Join us in New Orleans for a comprehensive, crash course in what you'll need to know about IT issues and products in the coming year to ensure your credit union's future success.

The world of IT can seem overwhelming, but we're certain that our line-up of knowledgeable and accessible session leaders will put the "easy" in Big Easy!

CU InfoTECH Session Leaders

Technology Planning
Tom Glatt, Sr.
President/CEO Continental FCU

Mobile Banking: Evaluating the Needs and Solutions For Credit Unions
Rick Sirois, Services and Consulting Engineer

Sprint Business Solutions

Server Virtualization – Cost and Benefit
Bob Frank, Senior Vice President,

Information SystemsMid-Atlantic Corporate FCU

Biometrics ID 2009: Identification Management for Credit Unions
Bill Rogers, President/CEO

William Rogers & Associates, Biometric Digest Newsletter

Technology Solutions for the Security Function
Dana Turner, Security Practitioner

Security Education Systems

Emerging Trends in Credit Union Technology and Delivery
Quintin Sykes, Managing Director

Cornerstone Advisors, Inc.

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For agenda and more information, click here.

For reservations, click here.

To obtain a conference brochure, click here.

A credit union technology conference from CU Conferences & William Rogers & Associates, Inc. For information, call 1-888-465-6010.

Plate Flipper - License Plate Message Text

The Plate Flipper is a device that hooks to your car's license plate, allowing it to flip down, and reveal a special message for the guy behind you.Perfect for drivers in Los Angeles and Orange County who like to show off their vanity while weaving in and out of lanes in their BMWs.

I think what's needed is a programmable LED version, where at the push of a button you can display different messages. (Click on photo to enlarge)

I imagine it can also be used avoid paying tolls on toll roads, allowing you to evade the cameras.

Visit Plate Flipper online at...http://www.plateflipper.com/

How do CUs collect members' e-mail addresses?

Credit unions collect members' e-mail addresses primarily through teller incentives, according to a recent survey.

About 17% of respondents said they used teller incentives to collect e-mail addresses, compared with account opening practices at 13% and through the credit union's website at 13%.

"The optimal time to gather the e-mail address is right at the beginning of the relationship," said Rick Blaisdell, co-founder of MailMethods, the company that conducted the survey. "A best practice is to capture the e-mail address as early as possible in the relationship, even if the credit union does not have any current plans to use it."

Credit unions also obtain the addresses through signage in the credit union, direct mail and telemarketing, the survey said.

How to Spot a Hoax E-Mail

Several resources can tell you whether an e-mail claim you're interested in is a hoax. One is Hoax-Busters.org, which describes itself as the Big List of Internet Hoaxes; another is Snopes.com, which specializes in urban legends and hoaxes, and a third is Hoax-Slayer.com.

Check out any of these sites before you forward that next petition, chain letter, or crazy photo.
Hoax-Busters also has a list of the "5 Telltale Signs of an Internet Hoax" that might useful.

- The e-mail will have a sense of urgency about it, and probably a lot of exclamation points in it.

- The e-mail will insist that you tell all your friends.

- The text is adamant that this is "NOT a hoax."

- It will earnestly inform you that there are dire consequences for not participating.

- It probably is full of >>>> marks, showing that it has fooled a lot of people before you, and has been forwarded all over the planet. Don't add any more!

If you must forward something, try this: The Federal Communications Commission's list of the Top 10 Spam Scams.

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New phone scams hit CUs in Alabama and Virginia

Add Alabama and Virginia credit unions to the growing list of credit unions throughout the nation whose members are being hit with vishing (voice phishing).

Heritage South CU, Sylacauga, Ala., warned Talladega County residents earlier this week of a phone scam in which an automated system asks for credit and debit card information (The Daily Home Aug. 20). The scam began Monday evening.

The $66 million asset credit union told the newspaper it received an equal number of calls from members and nonmembers contacted by an automated system claiming to be Heritage South and saying their card had expired.

The recipients were asked to call a long distance number to reactivate the card and the bogus "Heritage South Security Center" would ask for the card number, PIN and the card's expiration date.

For more details, visit: http://www.cuna.org/newsnow/08/system082108-4.html?ref=hed

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Best 'Out of Office' Automatic Email Replies

1. I am currently out of the office at a job interview and will reply to you if I fail to get the position. Please be prepared for my mood.

2. You are receiving this automatic notification because I am out of the office. If I was in, chances are you wouldn't have received anything at all.

3. Sorry to have missed you, but I'm at the doctor's having my brain and heart removed so I can be promoted to our management team.

4. I will be unable to delete all the emails you send me until I return from vacation. Please be patient, and your mail will be deleted in the order it was received.

5. Thank you for your email. Your credit card has been charged $5.99 for the first 10 words and $1.99 for each additional word in your message.

6. The email server is unable to verify your server connection. Your message has not been delivered. Please restart your computer and try sending again. (The beauty of this is that when you return, you can see who did this over and over and over...)

7. Thank you for your message, which has been added to a queuing system. You are currently in 352nd place, and can expect to receive a reply in approximately 19 weeks.

8. Hi, I'm thinking about what you've just sent me. Please wait by your PC for my response.

9. I've run away to join a different circus.

10. I will be out of the office for the next two weeks for medical reasons. When I return, please refer to me as 'Lucille' instead of Steve.

Shared branching key in disaster recovery, says CU

With hurricane season under way, a New Orleans-based credit union is reminding credit unions that preparation is key in providing uninterrupted account access to members during an emergency, and that shared branching can play an important role in business continuity.

New Orleans Firemen's FFCU (NOFFCU) encouraged credit unions to become part of a shared-branching network. When Hurricane Katrina battered the Gulf Coast in 2005, NOFFCU turned to CO-OP Shared Branching for assistance. While NOFFCU's offices were closed, it directed members to shared branches to get the money they direly needed. Those branches are still used by members today.

"After the storm, many members were permanently scattered outside of our proprietary branch network," says Cami Crouchet, chief operating officer of NOFFCU. "We expected a decline in membership, but instead our numbers remained flat," she said.

Read more about shared branching at: http://www.cuna.org/newsnow/08/system081908-3.html?ref=hed

When Do Airlines Change Their Ticket Prices?

Domestic U.S and Canada Airfare Distribution

Domestic U.S. and Canadian airfares are distributed to subscribers (reservation systems) on the following schedule and are loaded approximately 2-4 hours after distribution into reservation systems (except on FareCompare.com which sends out free airfare email alerts immediately):

> Weekdays - 3 times daily at 10:00am, 12:30pm and 8:00pm Eastern Time

> Weekends - 1 time daily at 5:00pm Eastern Time (loaded after Midnight the next day into reservation systems)

International Airfare Distribution

International airfares are distributed to subscribers (reservation systems) on the following schedule and are loaded approximately 4-8 hours after distribution (except on FareCompare.com which sends out free airfare email alerts immediately):

> Weekdays - 5 times daily at 1:00am, 5:30am, 11:00am, 3:00pm, 8:00pm Eastern Time

> Saturday - 2 times at 5:00am and 5:00pm Eastern Time

> Sunday - 2 times at 5:00pm and 8:30pm Eastern Time

Phishing Casts Spam By The Millions

By personalizing phishing emails impersonating the University of Otago, spammers managed to obtain the passwords of four staff members, whose accounts were used to send 1.5 million spam emails in 60 hours.

The spammers didn’t just abuse the clean IP reputation of the University, they also had its mail servers blacklisted thereby causing a DoS attack to its staff and students.

For more, visit: http://blogs.zdnet.com/security/?p=1723&tag=nl.e539

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Credit Union Boards Experiencing "CEO Sticker Shock"

Credit union boards replacing retiring baby boomer CEOs are experiencing major sticker shock, according to one of the industry’s leading staffing firms.

“Within the last five years we’ve seen our industry leaders start to retire, and big credit unions merge, and credit unions that haven’t had to recruit a CEO in years are looking at executive compensation packages today and doing double takes,” said Susan Mitchell, CEO of O’Rourke, Mitchell and Associates.

Tenured executives, increasing size and complexity of credit unions, and generational gaps all play a part, she said. Sometimes the disparity between retiring and incoming CEO pay is so large, it creates feelings of resentment for the outgoing leader.

“Retiring CEOs put in years building trust with their boards,” Mitchell said, “and for their replacement to come in and ask for that much money…and get it…almost goes against the grain of boomer thinking, that you should work your way up.”

Mitchell said today’s new CEOs want a market-driven core salary, additional “at risk” pay which is based on key performance measurements, and a competitive retirement plan. Executives also typically receive a company car, and some credit unions are assisting in relocation, given today’s economy and real estate market.

More CUs report phishing, vishing scams

Several more credit unions reported that they have been fraudulently used in phishing and vishing scams that target consumers:

>> E-mails were sent to Vermont residents by scammers purporting to be from Vermont State Employees CU (VSECU), a $366 million asset, Montpelier, Vt.-based credit union, informing consumers of attempts to steal their personal information by compromising their credit card accounts. The e-mail tells recipients to call a Vermont phone number and asks them for their 16-digit credit card number to reactivate their card. Exploiting the public's increasing knowledge of scams, the e-mail even uses a copyright notice from VSECU at the bottom of the e-mail (The Barre Montpelier Times Argus Aug. 5).

>> Fraudsters posed as officials from Chesterfield (Va.) FCU, a $52 million asset credit union. The scam began with automated phone calls and then progressed to e-mails--all claiming to come from the credit union. Respondents were given a phone number to call and asked for personal information. In some instances, the phone number was toll free; in others, the phone connection went to Iowa and Oregon. The scam targeted members and nonmembers (Richmond Times-Dispatch Aug 6).

>> In a scam known as spoofing, thousands of members of Langley FCU, a $1.224 billion asset, Hampton, Va.-based credit union, received telephone calls Friday afternoon, with a recording asking them to call an 877 number that appeared to be from the credit union. When members called the number, they were asked for personal information such as a personal identification number for an account. The phone number has been deactivated by the phone company, according to the credit union (WAVY.com Aug. 3).

>> Scammers targeted members of Three Rivers FCU, a $455.5 million asset, Fort Wayne, Ind.-based credit union, with a recorded message telling them to call in because security at the credit union had been breached. Once connected, the respondents are told to press "1" and enter their account number, making the information available to identity thieves. The credit union warned members that its security has not been compromised and that they should not respond to the recording (The Journal Gazette Aug. 6).

A fraudulent e-mail that appeared to be from the National Credit Union Administration (NCUA) that was sent to various credit union members provided a link to a mock-up of the NCUA website. Recipients were asked to provide credit card information and other personal data (Targeted News Service July 29).

11 charged in TJX, BJ's Wholesale Club breaches

Eleven people have been charged with stealing more than 40 million credit and debit card numbers obtained from TJX Cos., BJ's Wholesale Club Inc., and seven other retailers.

They were indicted Tuesday, in what the Justice Department calls the largest, most complex identity-theft case ever prosecuted (ComputerWorld.com, CNNMoney.com and Bloomberg.com Aug. 5).

Thousands of credit unions and their members were among those impacted in the thefts. Credit unions and other financial institutions were forced to reissue compromised cards and endure costs related to fraud. Some of the breaches sparked lawsuits by credit unions and by their insurance companies.

The identity theft ring targeted nine U.S. retailers, including TJX, BJ's, DSW Shoe Warehouse, Office Max Inc., Boston Market, Barnes & Noble Inc., Sports Authority, Forever 21, and Dave & Buster's restaurants.

More information at: http://www.cuna.org/newsnow/08/system080508-9.html?ref=hed

Credit Union Mobile Banking Projected to Rise

Mobile banking adoption by credit unions continues to trend upward, with the majority of credit unions surveyed in Callahan’s 2008 Technology Guide planning to invest in mobile banking technology over the next two years. Overall, about one-tenth of responding credit unions reported that they currently offered some type of mobile banking. However, about one-third of respondents did not currently offer mobile banking and anticipate no investments in mobile technology in 2008/2009.

Out of the Gate: No Clear Cut Technology WinnerCredit unions are split between adoption of WAP/browser-based mobile banking programs and SMS/Text messaging programs. While fewer credit unions mentioned plans for downloaded software, adoption of this technology may increase as more carriers implement pre-loaded software on their mobile phone options.
Some of the front-end issues that credit unions need to consider when selecting a technology include:

- Level of security: fraud and multi-factor authentication
- Compatibility with other systems such as online banking
- Desired transaction capabilities
- Member interest and need for information vs. transaction capabilities
- Local carrier considerations: compatibility with dominant local carriers
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More information is at: http://www.creditunions.com/home/articles/template.asp?article_id=2674

Embezzelment: Hands in the Cookie Jar

What do the numbers $36,000, $41,000, $48,000, $900,000, and $1,500,000 have in common? They’re amounts (allegedly) stolen by credit union employees in pending or resolved cases of embezzlement since the end of May.

With internal auditing procedures in place, staff to enforce them, a Supervisory Committee to enforce them, and state and federal auditors to ensure the credit union’s general ledgers (among other things) are in order, embezzlement is still very real, and more common than most would like to admit.

Mentioning embezzlement is akin to blurting out a four letter word in most credit unions, because one misspoken word may inadvertently cause the rank and file to believe they are unfairly being targeted, thereby creating trust issues. However, it should be included as part of a larger discussion regarding adherence to internal procedures, which is (hopefully) happening on a regular basis.

A good discussion a few times each year may help deter a desperate employee (with any title, including CEO) from making a life altering decision, and may even expose any potential loopholes that staff has discovered in their daily routines. [Read story at Christian Mullins].

Sorta gives new meaning to the terms Low Rider, High Tide & Full Moon... Not to mention Crack Kills

Two CUs sweep CUNA Tech Council awards

Technology CU and Purdue Employees FCU were honored as winners of the 2008 CUNA Technology Council Best Practices Awards at the council's 13th annual summit, which took place Wednesday through Saturday in Williamsburg, Va.

The awards recognize outstanding approaches to technology challenges with potential for universal application across the credit union movement. The winning credit unions presented the details of their success stories to conference attendees in the following categories:

>> Technology Infrastructure--Technology CU, San Jose, Calif., for its job-applicant tracking system for all internal and external applications, advanced reporting features, and more. A new job-listing site provides a user-friendly interface for applicants, and allows human resources to quickly and efficiently track applications without using paper. The credit union received more than 12,000 applications and resumes and posted and filled 170 job openings. The new system was such a success that credit union plans to extend a 100% paperless system to the entire recruiting process;

>> Sales Management--Purdue Employees FCU, Lafayette, Ind., for creating a new sales reporting model with a member service measuring tool to help the credit union meet its goal as members' financial partner for life. The sales staff now can follow up more quickly with members who express interest in specific products. Attempted cross sales are up nearly 300% from 2007. The new reports also help analyze productivity, contributions to specific corporate measures, monthly trend data, and branch production; and

>> Miscellaneous--Technology CU, for its online banking feature enhancement and new splash page to promote eStatement and electronic disclosures. The new business strategy included splash pages, with a disclosure agreement that requires members to opt out from all paper statements, electronic privacy notices, and any future notices electronically as they become available. One month after the launch, the number of eStatement enrollments realized a 63% increase. The program will have a big impact on cost savings over paper statements and will help the credit union "eSave the planet," Technology CU said.

CUNA Technology Council announces board members, officers

The executive committee and officers of the CUNA Technology Council were announced during the council's 13th annual summit, which took place Wednesday through Saturday in Williamsburg, Va.

Rudy Pereira, senior vice president of operations and technology of Alliant CU, Chicago, was named chair. He replaces Brian Warfel, executive vice president of sales and service at Power Financial CU, Pembroke Pines, Fla. Warfel reached his term limit as chair but remains on the executive committee.

Jackie Buchanan, chief information officer of T&C FCU, Pontiac, Mich., was appointed first vice chair. She supersedes outgoing member Gail Koehler, vice president of technology and retail delivery, Purdue Employees FCU, West Lafayette, Ind., who completed her term.

Gordon Gregory, vice president of technology for Mazuma CU, Kansas City, Mo., is the second vice chair.

CU Phone, e-mail scams move westward

Several phone and e-mail scams that have affected credit unions in the eastern part of the U.S. are now moving westward.

Some credit unions experiencing scams are:

> UW CU, Madison, Wis., whose members are targets of a hybrid e-mail/phone scam. An e-mail reads: "All UW credit union accounts were recently updated with a new security enhancement. For your security, we have temporary suspended your account." The e-mail mail then provides a bogus 800 number to call to reactivate the account. The UW CU sent a message telling members to never access the credit union site by clicking on a link provided in an e-mail, and that the credit union will never solicit personal or financial information in this manner.

>> Oregon Community CU, Eugene, Ore., which said scammers call its members on their home and cell phones, telling them that there is an issue with their accounts (kezi.com July 31). The scammers are deploying an automated service that asks members to give person information over the phone. The credit union told members not to respond if they receive one of these calls.

>> Kitsap CU, Bremerton, Ore., which received hundreds of calls last week about scammers attempting to get members' credit and debit card information (Kitsap.com July 31). The credit union said an unknown entity was blanketing the 360 area code with calls telling people that their credit or debit cards were suspended. Kitsap CU is one of the financial institutions the callers claim to represent. The credit union received 200 calls about the scam in a 15-minute period Thursday afternoon, said Ron Rogerson, Kitsap senior vice president of marketing. Kitsap CU reported the scam to companies that issue the cards, Bremerton Police, and the state attorney general's office, Rogerson added.

>> The TVA Employees CU, Knoxville, Tenn., issued a security alert regarding a phishing e-mail scam that attempts to solicit personal financial information from members. The e-mail tells members to call a phone number to update financial information. The credit union notified members that it will not use e-mails for confidential account notifications.

Travelers’ laptops may be detained at border

Federal agents may take a traveler's laptop or other electronic device to an off-site location for an unspecified period of time without any suspicion of wrongdoing, as part of border search policies the Department of Homeland Security recently disclosed.
Read more at: http://www.msnbc.msn.com/id/25960741/

EDS shareholders approve HP merger; EDS shoots down layoff rumors

EDS said Thursday (7/31) that shareholders have approved the HP acquisition of the IT services company. Internally, rumors about impending layoffs at EDS are surfacing, but a company spokesman called the rumors “completely factually incorrect.”

According to a statement, 98.8 percent of EDS common stock was voted for the HP deal–that equates to 72.4 percent of the outstanding shares.

While all of this news is good from the corporate perspective, EDS employees have been skittish. Rumors on Wednesday began percolating among EDS technology managers that the company is planning on laying off 20 percent of its workforce across all hubs in the Americas. As noted previously EDS said the rumors are incorrect. On Wednesday, EDS said it would not comment on the rumors, but moved to squash them Thursday.

EDS was once the leader in technology services to credit unions when it acquired CUNADATA in 1981 followed by a series of acquisitions of various credit union processors across the country. EDS left the credit union market several years ago.