IT Consultant Theft in Bank
The IT consultant, who was involved with supplying services for the It administrations in various banks, received his punishment this week considering the charges that were filed against him. He was penalized with greater than 5 years of imprisonment due to stealing 2 million US dollars with the use of the information he had on hand on the four monetary agencies.
Corresponding punishments shall be served
Based on the records that were filed at the US District in Utah, the 43-year-old convict Zeldon Thomas Morris was charged with 63 months of detention in the federal prison. He will also have to give compensation of just about or greater than 1.8 million US dollars. In addition, he was ordered to surrender all the automobiles, real estates, and some of his properties in the process. And, he was ruled out from accepting any positions that has something to do with the financial agencies that are run by the state.
Use of privilege to accomplish illegal actions
Judge Clark Waddoups of the US District was the one who gave out the sentence for Morris’ case on Wednesday. This occurred two weeks after Morris plead guilty on the case of one count of felony for the bank fraud. The man responsible for the crime abused his free access into the computer system of the bank, which involves updating it with the software patch. Hence, he accomplished the act by creating invented transaction and he also transferred money into his own accounts.
Morris indicated in the court document that he used his duty as one who updates the software of the system in order to achieve his goal. This criminal act remained undisclosed from the month of August 2006 to April of the year 2009 and this was about two and a half years already.
He admitted that he used this method in order to take the 2 million US dollars from the four different agencies. Additionally, Morris moved the stolen money from one agency to another in order to hide the suspicious activity.
Be cautious with all the hired employees
Morris’ case is the most recent topic regarding the risk of inside job in banks and other related industries that are inclined with protecting confidential data. Also, other than the intention of achieving money from the act, they also use their lawful access as a tool for vengeance against their own employers.
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