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Wells Fargo employee sells customers' personal information, leading to $688,000 in fraudulent transactions: US banking regulator
US regulators have banned a former Wells Fargo employee from working in banking after she allegedly sold private client information and engineered more than half a million dollars in fraudulent transactions.
New documents from the Office of the Comptroller of the Currency (OCC) detail a consent order against former Wells Fargo employee Bathia Green, a junior operations processor at the bank's Philadelphia, Pennsylvania, vault.
The OCC alleges that Green misappropriated confidential Wells Fargo customer data and sold that information, leading to a wave of fraudulent transactions.
Wells Fargo lost $688,000 as a result of Greene's actions, according to the OCC.
According to the regulator,
“At all relevant times, Defendant was a junior transaction processor for the Bank's vault in Philadelphia, Pennsylvania. Between approximately October 2021 and January 2022, Defendant misappropriated the Bank's confidential customer information and sold that information to a third party, resulting in fraudulent transactions.
The bank suffered losses of approximately $688,000. Because of the foregoing conduct, Defendant engaged in violations of law or regulation and engaged in unsafe or unreasonable conduct.
Defendant’s misconduct resulted in financial gain for Defendant and loss or risk of loss to the Bank and demonstrated personal dishonesty and a willful or persistent disregard for the safety and soundness of the Bank.”
Under the agreement, Green does not appear to face criminal charges.
The agreement prohibits Green from participating in the activities of any insured U.S. banks, credit unions, federal banking agencies, farm loan institutions, federal home loan banks and the Federal Housing Finance Agency.
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