News & Press: The Pulse Newsletter

COVID-19 Update - May 20, 2020

Tuesday, May 19, 2020  
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FinCEN Issues Advisory Alert on COVID-19 Medical Scams

The Financial Crimes Enforcement Network (FinCEN) issued what it states is the first of several advisories.   This first advisory is on Medical Scams Related to the Coronavirus Disease 2019 (COVID-19). According to the advisory, “information from other federal agencies, foreign government partners, and public sources indicate possible illicit activities related to the COVID-19 pandemic regarding (1) fraudulent cures, tests, vaccines, and services; (2) non-delivery scams; and (3) price gouging and hoarding of medical-related items, such as face masks and hand sanitizer.”

The advisory provides twenty-two red flags, indicative of these scams, that financial institutions should look out for. 

Updated Survey Response Needed

Please provide as much information as possible regarding your credit union's response since the COVID-19 crisis began. Responses should reflect cumulative efforts to date. Only one response per credit union is needed.

Please complete the survey by Friday, May 22.

Partner Resources

Updated content and resources from MnCUN partners for credit unions.

CU Webinar Network

The CU Webinar Network has made it easier for you and your team to access our Live and Recorded webinars while working remotely. Effective immediately and continuing through this crisis, any Live Webinar can be accessed from as many locations as you need with one registration. We’ve also improved the turnaround time on our recorded webinars, making recorded content available 2 business days following the Live Webinar. As always, the Recorded Webinar is yours to keep and can be shared with anyone at your credit union.

CU Webinar Network COVID-19 Webinar Resource Center

CUNA Mutual Group

Minnesota Credit Union Network
555 Wabasha Street N, Suite 200
St. Paul, MN 55102

(651) 288-5170
(800) 477-1034