$500M ROBBED FROM BANK ACCOUNTS IN 6 MONTHS …Tellers, university students are main culprits

July 22, 2016

The Electronic Fraud Unit at the Counter-Terrorism and Organised Crime Investigation Branch (C-TOC) says it is bombarded with reports from unsuspecting persons whose bank accounts have been fleeced of more than $500 million over the last six months.
THE WEEKEND STAR understands that the exorbitant figure is due to monies, both in local and US currencies, that have been swindled from personal and business accounts.
Investigators have so far revealed that the robberies are being carried out by a group of persons whose names have shown up on more than one person's account.

Sub-officer in charge of the Electronic Fraud Unit at C-TOC Detective Inspector Jacqueline Dodd told our news team that bank employees, as well as University students, who have been fingered in the ongoing probe, are being investigated for involvement.
"We are investigating if bank employees are involved. Investigations are ongoing to see how people's accounts could be manipulated,î Dodd said.

Unsuspecting persons

According to Dodd, the fraud involves persons going into the accounts of unsuspecting persons, and then transferring funds obtained to other accounts. Afterwards, someone would visit the banks and make withdrawals.
"It involves any account and they would transfer funds from your US account to your regular savings account and then send to another account, where it is collected,î she said.
The police highlighted that university students have been recipients of the spoils from the fraud.
"University students have received commissions amounting to $30,000 which they are told can be used to pay tuition. They are naive and go into it not realising that it is part of a fraud. They collect money and send it as instructed. Some are led to believe they are working for an international company," Dodd said.
The police told THE WEEKEND STAR that they cannot charge persons unless investigations reveal that they have been part of the fraud.
Our news team was told that several arrests have been made and a number of persons are before the courts.
"We have a lot of reports. The unit is bombarded with five or six reports on a daily basis. Its overwhelming - A lot of reports so - we tell persons to come back. They are advised to return with documents to aid our investigations," Dodd added.
The police are advising the public not to give persons access to their accounts and to be extremely careful with persons overseas who are promising jobs.





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