Wells Fargo employee sold customers’ personal information, resulting in $688,000 in fraudulent transactions: U.S. banking regulator
U.S. regulators have banned a former Wells Fargo employee from the banking industry for selling personal customer information and facilitating fraudulent transactions of more than $500,000.
A new filing from the Office of the Comptroller of the Currency (OCC) details a consent decree with former Wells Fargo employee Bathia Greene, the operational handler of the bank’s locker facility in Philadelphia, Pennsylvania.
The OCC said Greene embezzled confidential information from Wells Fargo customers and sold that information, resulting in a surge in fraudulent transactions.
According to the OCC, Wells Fargo lost $688,000 as a result of Greene’s actions.
The regulator said,
“At all relevant times, defendant was the operating processor of a bank locker facility in Philadelphia, Pennsylvania. From approximately October 2021 to January 2022, the respondent misappropriated the confidential information of bank customers and sold it to third parties, resulting in fraudulent transactions.
The bank lost about $688,000. By virtue of the foregoing conduct, Defendants violated laws or regulations and committed unsafe or unwholesome practices.
Defendant’s misconduct resulted in financial gain for Defendant, created loss or risk of loss for the Bank, and demonstrated personal dishonesty and willful or persistent disregard for the safety and soundness of the Bank.”
According to the agreement, Green will not face criminal charges.
The agreement prohibits Greene from engaging in the activities of any insured U.S. bank, credit union, federal banking agency, farm credit agency, federal home loan bank, or federal housing finance agency.
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