Protecting Credit Unions from Identity Theft
Ken Otsuka, CUNA Mutual Group
Identity theft continues to cause losses throughout the financial services industry. Identity thieves are receiving large loans at credit unions which they never intend to repay, resulting in losses involving much higher dollar amounts. This session will cover practical applications of the identity theft red flag rules under the Fair and Accurate Credit Transactions Act (FACT Act) and loss case studies.
About Ken Otsuka
Ken Otsuka is a senior consultant, Risk Management in the Credit Union Protection Risk Management department for CUNA Mutual Group. In this role he assists credit unions in identifying areas of risk in their operations, and recommends appropriate loss controls to reduce loss exposure.
Otsuka joined Risk Management in 1990 after spending eight years as an auditor with another insurance company and is also responsible for researching and analyzing emerging risks for product development along with developing resource and other training material for credit unions.
A graduate of Northern Illinois University, Otsuka earned a bachelor’s degree in accounting. He received his Certified Public Accountant (CPA) designation in 1982.
Otsuka is frequently asked to speak by various organizations on a variety of fraud and compliance topics. He also provides training for credit union employees. Otsuka is considered an expert on Federal Reserve Regulation CC and often conducts training seminars on the regulation.