Bank tellers may pose greater threat to customers than hackers, NY Times says
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It may not be hackers that pose the biggest threat to bank customers’ funds and personal information.
Bank tellers have access to a great deal of information about customers, as well as their accounts, and a lack of security and enforcement against those who transgress leaves customers vulnerable, the New York Times reports.
“It’s a rampant problem,” says Brenda Fischer, who heads the cybercrime and identity theft unit of the Manhattan district attorney’s office.
Customers who are elderly or have large balances in their accounts are most at risk from teller misconduct. This can include the sale of personal information to identity thieves; opening credit accounts without the individual’s knowledge; and outright theft of funds through unauthorized withdrawals. With knowledge of how the banking system works, it is not difficult for dishonest workers to create fake ATM debit cards for legitimate accounts or to obtain approval of charges made to customer accounts.
Although the Manhattan DA’s office is filing new cases against tellers on an almost monthly basis, antiquated laws and a reluctance by some banks to prosecute teller fraud make it difficult to hold offenders fully responsible for their crimes, the newspaper reports.
In New York, for example, prosecutors cannot aggregate the total amount stolen by an individual from customers at multiple banks when pursuing identity theft cases. If permitted, that could lead to enhanced penalties.
In a letter last year, the state attorney general urged big banks to curtail the “unlimited access to financial institution customers’ account data” provided to tellers.
See also:
Associated Press: “Former Jefferson City bank teller sentenced for embezzlement”
Artesia Daily Press: “Preliminary examination upcoming for former bank teller charged with embezzlement”
Telegram & Gazette: “Bank teller accused of stealing thousands from elderly customers in West Boylston”
