Employee Misappropriates Customer Information
A former Wells Fargo employee, Bathia Greene, has been banned from the banking industry by a US regulator for allegedly selling confidential customer information. The breach resulted in fraudulent transactions totaling $688,000.
Greene worked as an associate operations processor at Wells Fargo’s lockbox facility in Philadelphia. Between October 2021 and January 2022, she is accused of misappropriating and selling customer data to a third party.
Bank Suffers Financial Loss
Wells Fargo lost $688,000 as a result of Greene’s actions. The regulator stated that her misconduct “resulted in financial gain to Respondent and loss or risk of loss to the Bank.”
Employee Banned from Banking
As part of a settlement, Greene has been banned from participating in any activities related to insured US banks and other financial institutions. She does not appear to be facing criminal prosecution.
Importance of Data Security
The incident highlights the importance of data security in the banking industry. Banks must take steps to protect customer information from unauthorized access and misuse.
