We receive requests on a daily basis for member account information. These requests are typically related to a mortgage loan, a divorce or a verification of assets from a municipality as part of some type of government assistance. The majority of these requests are received by fax. Our employee will review the documents, compare the signature(s) on the document to those on file and fax the information back. I am a little concerned that we only verify signatures. It is too easy these days to cut and paste. Also, the requests always ask for the account number. At this time the full account number is provided. What controls have you implemented with respect to these types of requests? Do you verify with the member that it is a valid request and they have authorized it? Do you truncate the account numbers? Any suggestion you may have will be appreciated. Thanks, David ButzBlackhawk Community Credit Union
February 24, 2011 - 2:01pm
#1