US Justice Department uncovers Insider Scheme involving Payment and Personal Data
A California resident named Kalien Frazier has been accused by the US Justice Department of engaging in a profitable insider scheme at a US bank, where he repeatedly stole and sold customer data. The United States Attorney’s Office for the Eastern District of Pennsylvania has indicted Frazier on six counts of wire fraud and one count of aggravated identity theft. According to prosecutors, Frazier, who worked as a customer service representative at an FDIC-insured bank, exploited his position to gather sensitive client information, such as account details, debit card details, card verification value (CVV), and personal identifying information. He allegedly went as far as asking customers to provide confidential data even when it was not required by the bank. Once he had collected the customer data, Frazier allegedly advertised his illegal activities on group chats, offering to sell bank account details and cautioning potential buyers to stay within certain limits to avoid detection. The prosecutors claim that Frazier’s scheme affected hundreds of accounts, resulting in unauthorized electronic payments and transfers. If convicted on all charges, Frazier could face a maximum sentence of over 120 years in prison.