HomeCyber Security NewsFormer Bank Employee Steals Customer Details to Commit $53,000 Fraud

Former Bank Employee Steals Customer Details to Commit $53,000 Fraud

Sydney Man Sentenced for Identity Theft and Financial Fraud

A 26-year-old former banking employee from Sydney’s Inner West has been sentenced for stealing more than $53,000 using customer details. 

The man illegally accessed bank accounts to open false accounts and acquire numerous debit cards. His actions first raised suspicions at an Australian financial institution in June 2022.

Discovery and Legal Consequences

In August 2022, a police search of his Balmain East home uncovered between 50 and 60 debit cards in his name, six more in the names of multiple victims, and numerous SIM cards and bank documents. 

The man pleaded guilty to several charges, including accessing data with intent to commit a serious offense and possessing identification information.

He was sentenced to an intensive correction order for two years and eight months, which includes 500 hours of community service.

Police Warning on Identity Theft

Australian Federal Police Commander Kate Ferry warned that such exploitation, especially by those in trusted positions, would not be tolerated. 

She emphasized the severe impact identity theft can have on victims and encouraged Australians to report any irregularities in their bank accounts to their financial institution and to Report Cyber at cyber.gov.au.

Source 7news

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