Fourteen busted on online banking theft charges

Powered by SC Magazine
 

Face up to 30 years gaol.

Fourteen people in the US have been charged in connection to a bank fraud ring in which the accounts of unsuspecting customers were accessed to transfer money.

The defendants range in age from 23 to 53,. The alleged ringleader, Ibrahin Elias, was charged with 16 counts of substantive bank fraud, three counts of aggravated identity theft, and one count each of conspiracy to commit bank fraud and destruction of evidence.

"Once Elias had control of an account, [he] transferred funds to accomplices, who made their own accounts available to receive the stolen money," the news release said. "Elias also ordered checks which were used to drain victims' accounts."

The other defendants are charged with receiving the stolen funds, cashing stolen checks, or recruiting others to participate in the racket.

Each defendant charged with conspiracy and bank fraud face up to 30 years in prison.

It is unclear how Elias obtained the credentials, including names, Social Security numbers, and birth dates, which were used to access victims' accounts. A U.S. attorney's spokesperson could not immediately be reached on Monday.

This article originally appeared at scmagazineus.com

Copyright © SC Magazine, US edition


Fourteen busted on online banking theft charges
 
 
 
Top Stories
Westpac hires SAP man as CTO
Creates four new IT lead positions.
 
Qld Transport to replace core registration system
State's biggest citizen info repository set for overhaul.
 
Innovating in the sleepy super industry
There’s little incentive to be on the bleeding edge, so why is Andrew Todd fighting so hard?
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Who do you trust most to protect your private data?







   |   View results
Your bank
  39%
 
Your insurance company
  3%
 
A technology company (Google, Facebook et al)
  7%
 
Your telco, ISP or utility
  7%
 
A retailer (Coles, Woolworths et al)
  2%
 
A Federal Government agency (ATO, Centrelink etc)
  21%
 
An Australian law enforcement agency (AFP, ASIO et al)
  15%
 
A State Government agency (Health dept, etc)
  5%
TOTAL VOTES: 951

Vote