Client Question – The People You Hire…

From a Client: One question: When hiring applicants – what is the insurance view on hiring individuals that have had some credit issues in the past, i.e. delinquency, foreclosure, and charge-offs, if they are in a non-cash handling position?   My Reply: If your regulators are OK with them the insurers are OK. The only issue … [Read more...]

Social Engineering Fraud Insurance

I have said it often - the bad guys are good at being bad. Time to check your bank's fraud-bond for an important new coverage, Social Engineering Fraud Insurance. Social engineering fraud is a game of deception - the bad guys convince a bank employee to transfer bank funds pretending to be a bank officer, a board member, an employee, or a … [Read more...]

Bank Teller Steals $2m

For all my bank clients who say they are too small and know their employees too well to have a big loss... I recently learned of an employee of a $300m bank who stole $2,000,000 over seventeen years. I can only imagine the heartbreak of the leadership of the bank when they learned of this - not just the loss, but the violation of trust. No … [Read more...]