IT pro admits to $1.1 million charity theft

A 27-year-old has admitted to stealing over $1.1 million from charities and nonprofits through an identity theft scam.

Theft

A contractor who worked in the IT department of the Bank of New York has admitted to stealing more than $1.1 million from charities and nonprofits, among other organisations.

Adeniyi Adeyemi stole personal information from 2,000 bank employees and then used the information to carry out the thefts over eight years.

Adeyemi took the personal data to open more than 30 bank and brokerage accounts with a number of financial institutions, including E*Trade and Fidelity.

The 27-year-old former IT worker used the charities' banking details to set up wire transfers on the E*Trade and Fidelity sites to transfer money from the charities' account to his dummy accounts. He then withdrew the funds or moved them over to a second layer of dummy accounts.

Many charities opt to place their bank details available online to make donations simpler for online users. Of course, this leaves them more open to attacks such as this.

Adeyemi also used the personal data he stole to take money from the bank employees, again by moving money over to the dummy accounts. To avoid detection, he ensured that no transfer would be more than $10,000 the point at which all financial institutions are required to report transactions to the US Treasury.

However, the New York/New Jersey Electronic Crimes Task Force of the United States Secret Service became aware of some suspicious activity and traced it back to wireless internet connections in Adeyemi's apartment building.

Some of the organisations affected by the scam include Goodwill Industries of Greater New York and New Jersey, the Sudanese American Community Development Organisation and the American Association for Clinical Chemistry.

"This defendant invaded the privacy of thousands of employees by stealing their personal and private information," said Manhattan District Attorney Cyrus R Vance, Jr.

"He victimised his colleagues, charities, and nonprofits. Particularly because identity theft is such a serious problem in our city and nation, I thank the members of our Cybercrime and Identity Theft Bureau for their work on these difficult cases," he added in a statement.

Adeyemi is due to receive his sentencing on 21 July.

Featured Resources

Navigating the new normal: A fast guide to remote working

A smooth transition will support operations for years to come

Download now

Leading the data race

The trends driving the future of data science

Download now

How to create 1:1 customer experiences at scale

Meet the technology capable of delivering the personalisation your customers crave

Download now

How to achieve daily SAP releases

Accelerate the pace of SAP change to support your digital strategy

Download now

Recommended

Your essential guide to internet security
Security

Your essential guide to internet security

23 Sep 2020
How to enable private browsing on any device
privacy

How to enable private browsing on any device

22 Sep 2020
Third-party apps are tracking your WhatsApp activity
social media

Third-party apps are tracking your WhatsApp activity

21 Sep 2020
Ransomwiz lets you test your security with simulated ransomware
ransomware

Ransomwiz lets you test your security with simulated ransomware

21 Sep 2020

Most Popular

16 ways to speed up your laptop
Laptops

16 ways to speed up your laptop

16 Sep 2020
16 ways to speed up your laptop
Laptops

16 ways to speed up your laptop

16 Sep 2020
Windows Server flaw sparks emergency US gov warning
vulnerability

Windows Server flaw sparks emergency US gov warning

21 Sep 2020