TD insider pleads guilty in $3.4M account fraud

TD Bank Insider Masterminds $3,433,989 Fraud Scheme, Stealing Customer Information To Drain Accounts: DOJ

A former employee of TD Bank may spend decades behind bars after carrying out a bank fraud scheme that led to millions of dollars in losses. In a statement, the US Justice Department says that between January 2021 and May 2021,  Cheungkin Lam, also known as Kelvin Lam, took advantage of his position at the bank by accepting bribes in exchange for identifying accounts with large balances and stealing confidential customer information. His co-cons…

TD insider pleads guilty in $3.4M account fraud

Cheungkin Lam fed customers' account details to a crew that drained their balances, including $417,300 from one account that TD had to repay.