B.S.A. Corner
Aug 02, 2023
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Bank Employees Gone Wild.β Itβs my new podcast. Remind me. What is a podcast?
 Back when I started in banking in the 1970βs your biggest losses related to bank staff were teller shortages and an occasional small travelerβs check or small vault cash shortage (a few hundred dollars or so). Fifty years later and boy, how things have changed. In Missouri a bank branch manager at UMB Bank stole $439,000 from the branch vault. A Wells Fargo personal banker in San Diego helped open 11 fictitious accounts for a Mexican cartel and assisted in wiring $3.8 million to Mexico  . In Birmingham, Alabama a fraud and claims operations clerk at Wells Fargo and a teller at Regions Bank stoled their customerβs information and sold it on the Dark Web in connection to account takeover schemes. These three recent cases that I have highlighted hammer  home the need that EVERY bank  security officer needs to have training on internal fraud control and how to properly conduct an investigation. Please free to reach out to Thompson Consulting to help and assist you in this growing area of concern.I am sure all the employees in the cases all told some βwhoppers of lies.β I hope you had a Happy April Foolβs Day and enjoyed a left-handed Whooper.
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Take care,
Greg
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