In our practice, we are increasingly encountering issues involving employees of financial institutions and other large corporations who use their positions and knowledge of internal policies and procedures to coordinate schemes for their benefit or assist their external contacts in fraudulent activity.

For example, one recent fraud case we acted on involved the transfer of funds out of bank accounts known to be dormant or not checked regularly. An employee used his access to amend contact details on the accounts which ultimately enabled the employee to approve orders and transfer instructions by telephone, resulting in the fraudulent transfer of funds out of those accounts.