Large-Scale Bank Fraud Scheme Exposed in the U.S.
Three individuals in the United States have been arrested for allegedly stealing over $10 million from banks and financial institutions, with the stolen funds later converted into cryptocurrencies.
On this page
Three individuals in the United States have been arrested for allegedly stealing over $10 million from banks and financial
institutions, with the stolen funds later converted into
cryptocurrencies.
The culprits reportedly recruited individuals to open accounts in
various New York banks. They then executed transfers between these
accounts, subsequently claiming these transactions were unauthorized.
The banks' security systems, designed to temporarily credit compromised
accounts, inadvertently doubled the amount of money at the fraudsters'
disposal.
“These charges should serve as a warning to fraudsters and
cybercriminals who think they can turn to cryptocurrency to hide their
identities – together with our partner agencies, we will find you and
hold you accountable for your crimes,” said U.S. Attorney Damian
Williams.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
