Theft Will Happen On The Interior

It is always the last place you look. No matter how many locations you inspect, how many plans and procedures you put in place, or the extent of your security, without a complete and comprehensive exploration and knowledge of information security, there will be a couple or few places that you miss. We would like to think and believe that the individuals we employed to assist us in moving the business forward are trustworthy, honest, and and full of integrity who will stand behind the business. Therefore, it always comes as a complete surprise when an individual within the trusted force becomes a weak link in our security structure.

Recently an erstwhile information technology employee within the Bank of New York Mellon had given a guilty plea to the theft of sensitive and confidential information that belonged to two thousand employees of the bank and then utilized the same information to steal a sum greater than one million dollars from various charities.

The employee was in the bank as a contract computer technician within the Bank of New York Mellon Manhattan offices. The allegedly stolen data had belonged to his information technology department co-workers. In court he provided a guilty plea to money laundering, theft, and computer tampering charges. The now ex-employee admitted over a period of eight years his theft involved over one million dollars allocated to charities was taken by the transference of funds to false bank accounts he had previously set up with the personal information of his co-workers. In a press release given by the district attorney's office stated, “He used the banking details of the charities, as well as the rounting and account numbers, in order to create wire transfers on the Fidelity or E*TRADE locations from the charities' account to dummy accounts he previously set up, and took the stolen finances or had them moved to a different level of already created secondary accounts.”

Some of the charities involved were the Goodwill Industries of Greater New York, the International Association of Women Judges, and the Jacksonville Humane Society, as they had made their bank account details public so they could receive the donations.

Those committing fraud and theft have the ability to transfer funds from a bank account using the Automated Clearinghouse Network, a backend system utilized for interbank transactions. Unfortunately this network has been used in the past year to transfer tens of millions of dollars in fraudulent bank transactions.

The now ex-employee also confessed to stealing from his former coworkers controlling their online bank accounts and wiring the funds to one of his several dummy accounts. Stolen monies was used to purchase United States Postal Service money orders, which then paid his credit cards, his rent, and to buy merchandise he later shipped to the country of Nigeria.

Situations such as this happened on a too frequent basis. Not only is a measure of security awareness necessary, but complete and thorough information security training. CISSP online training should be a requirement within each organization, enterprise, and areas of business where information, finances, and other vital areas need a strong level of protection. Operational security, environmental security, access control, security risk management, security policies and compliances, and many more security issues are available from information technology sources such as K Alliance.

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