When a Tiny Credit Union Conducts $30 Million a Month in ACH Transactions: Red Flag, Anyone?
The now liquidated Helping Other People Exceed Federal Credit Union (insert joke here), which was one of New Jersey’s smallest credit unions, has now been tied to a massive criminal enterprise that led to a large bank data breach. A senior executive at the credit union was allegedly paid $175,000 in bribes to allow money to be laundered through a bitcoin operation. The $290,000 asset credit union was conducting $30 million a month in ACH transactions. [12/10/15]