Links in “Financial Crime”
- One Call in 2,500 to Call Centers from Fraudsters Out to Steal Money
Multi-million underground operation targets financial institution call centers going after big dollar accounts. Average loss per account: $42,546. [12/5]
- Instagram Used in Scam Against Credit Union
A member of Pennsylvania State Employees Federal Credit Union allegedly used the social media site Instagram to deposit more than $62,000 into 14 different fraudulent accounts at the credit union and then withdrew $22,640 from ATMs in Pennsylvania and New Jersey before the fraud was detected. [11/27]
- Cautionary Tale: From Cigars to Cash Hidden in Cigar Boxes
U.S. Bank AVP allegedly began taking bribes from a collection agency in the form of expensive cigars, which escalated to cash payments as much as $5K hidden in cigar boxes. [11/26]
- NCUA Files Additional Suit in St. Paul Croatian FCU Collapse
NCUA files lawsuit seeking a $6.9 million judgment against two more individuals involved in embezzling funds from St. Paul Croatian FCU. The defendant and his wife allegedly set up six businesses in order to obtain fraudulent loans from the credit union. The defendant also paid $20,000 in kickbacks to the former CEO, who is now serving a 14-year sentence in a federal prison. [11/22]
- Credit Union Looted Before Managerâs Suicide
NCUA has filed a civil complaint against the estate of John Dupree, Jr., the former manager of the $2.4 million Shiloh of Alexandra FCU, and his former fiancé. The complaint alleges that the pair embezzled about $10 million dollars from the small credit union to pay for âsinful thingsâ as stated in Mr. DuPreeâs suicide note. [11/21]
- Malicious Email Traffickers No. 1 Target: Customers of Financial Service Providers
Consumers remain 7 times more likely to become a victim of a cyberattack via "their bank" versus any other sector. [11/12]
- Fraud Nets Former Bank Exec 23 Years in Jail and $333 Million in Restitution
Former CEO/president of the now defunct Bank of the Commonwealth in Virginia sentenced for conspiracy to commit bank fraud, false entry in a bank record, unlawful participation in loans, and more. [11/12]
- AML Violations for Processing $19 Million in Shell Corporation Checks
Check cashing company violates anti-money-laundering requirements of the Bank Secrecy Act for processing $19 million in shell corporation checks between June 2009 and June 2011. [11/6]
- NCUA Promotes Webinar on Employee Fraud Deterence
November 14 webinar will answer key questions on reducing employee fraud and provide real-world case studies. [10/30]
- Vietnamese Theft Ring Tricks Experian Into Divulging Confidential Info
Criminals posing as private investigators trick Experian into selling them social security numbers, drivers licenses numbers, bank account and credit card info on possibly millions of Americans. [10/24]
