Bank Insider Orchestrates $500,000 Fraud Scheme, Leaks Confidential Customer Information To Criminals: DOJ – The Daily Hodl
An employee at a US banking giant has been caught orchestrating a $500,000 fraud scheme, according to the U.S. Department of Justice.
The DOJ says 31-year-old Edward Low of New York has admitted to using his position at TD Bank to steal confidential customer data and pass it to co-conspirators, who used it to take over and drain accounts.
Authorities say that between January 2021 and May 2021, Lew accepted bribes and actually processed some of the fraudulent transactions himself.
In addition, from May 2022 through August 2022, Low worked for a separate financial institution and accepted bribes to falsify bank records for his co-conspirators.
Says Senior Counsel Philip Lamparello,
“This defendant chose to sell his access to the banking system from the inside.
By accepting bribes at two separate financial institutions, he betrayed the trust placed in him and enabled outside fraudsters to exploit customer accounts and falsify bank records for personal gain.”
Low has pleaded guilty to conspiracy to commit wire fraud and making false bank entries and is scheduled to be sentenced in July. He faces up to 30 years in prison.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
