NCJ Number
132975
Journal
Security Management Volume: 35 Issue: 10 Dated: (October 1991) Pages: 76-80,82
Date Published
1991
Length
6 pages
Annotation
Citicorp Global Payment Products is the branch of Citibank, N.A. that processes travelers checks, official checks, money order, and other financial instruments; the Citicorp Global Payment Products Security and Investigative Services Department investigates possible fraud or theft involving these paper-based monetary products.
Abstract
The 33 staff members of the department have been recruited from law enforcement agencies worldwide and are fluent in 8 or 9 languages. The department provides security for the parent organization as well as franchise operations including Diner's Club and Visa credit card operations in Europe and Asia. The department has also expanded its activities to include travelers check refunds and mortgage fraud investigations. In Citicorp, security is intertwined in every aspect of the business from production to distribution because the company understands how fraud can deteriorate its profitability. The security department is adamant about prosecution, sometimes spending more to follow up a case than the actual amount of money stolen.