Summer 2010
Posted September 8, 2010
In this issue:
In its “2010 Report to the Nation on Occupational Fraud and Abuse,” the Association of Certified Fraud Examiners (ACFE) pegs the median loss due to occupational fraud at $160,000. Statistics for the banking/financial services industry are even worse. Here are steps you can take to create a robust fraud prevention program in your financial institution.
Most financial institutions recognize when an increased loss allowance is necessary. The economy and other factors make this a good time to restore or adjust the Allowance for Loan and Lease Losses (ALLL). Here’s a look at the pros and cons of three common methods of adjusting loan reserves in the current environment.
The most sweeping reform of the financial system in a generation is now law. That much is known. Exactly what it will require and how it will affect financial institutions is still uncertain.
For an early look at the facts and the far-reaching implications of financial reform, download our white paper, The Financial Reform Act of 2010: A First Look at the Known and the Unknown.
