Financial Crimes are Getting More Sophisticated
June 16, 2010
Total Loss:
Unknown
A college student, dressed conservatively and boasting a 3.5 grade point average, walks into a U.S. bank branch to cash a check. Just another day — only this "customer" happens to be a member of an overseas Asian gang, and his checks are counterfeit.
Behold the new face of bank fraud and other financial crimes.
"These are often wealthy kids who are just bored, looking for thrills," said Edward Yee, an investigator with the Orange County, Calif., District Attorney's Office.
Source:
American Banker, By: Katie Kuehner-Hebert
Posted in:
Check Fraud