Residential Program Advisor Linked To Bank Fraud Scheme

An advisor in a Philadelphia residential mental health support program was recently indicted in connection with a bank fraud scheme.

A United States Attorney for the District of Maryland, along with four other federal and area law enforcement officials, said the man had sold identity information stolen from at least 40 clients, which was used to open bank accounts. Then, his co-conspirators — who controlled the accounts — allegedly deposited fraudulent checks into them and obtained bank cards. They later used the cards at ATM machines to make cash withdrawals from the accounts and to make purchases at retail stores. The information also was used to file fraudulent tax returns.

For many small to mid-sized organizations, the vulnerability to fraud can be compounded because of the informal nature and the fact that fewer staff members can result in less oversight — and a lack of checks and balances. Contact us for ideas on how to detect fraud in your organization and how to set up policies and procedures to prevent your organization from becoming a victim of fraud.