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
iiNet facing new copyright battle with Hollywood
Fighting to protect customer details.
 
The CISO’s dilemma: Do you trust your partner’s partner?
[Blog post] How far down the chain do you check?
 
Microsoft confirms Australian Azure launch
Available from next week.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
In which area is your IT shop hiring the most staff?




   |   View results
IT security and risk
  24%
 
Sourcing and strategy
  12%
 
IT infrastructure (servers, storage, networking)
  22%
 
End user computing (desktops, mobiles, apps)
  15%
 
Software development
  26%
TOTAL VOTES: 299

Vote
Would your InfoSec team be prepared to share threat data with the Australian Government?

   |   View results
Yes
  58%
 
No
  42%
TOTAL VOTES: 110

Vote