Fraud & Cybercrime Squad - Corporate Corruption Team
Friday, 25 March 2016 04:29:10 AM
Police have charged a man in connection with an alleged bank fraud, totalling almost half a million dollars.
On Tuesday 15 March 2016, investigators from the Corporate Corruption Team of the State Crime Command’s Fraud & Cybercrime Squad were notified by a bank of more than 70 suspect transactions believed to have been committed by a staff member.
Subsequent investigations by the team allegedly identified a total of 80 transactions paid into two separate accounts totalling $492,000.
About 10am yesterday (Thursday 24 March 2016), a 34-year-old man attended North Sydney Police Station, where he was arrested by detectives and later charged with three counts of fraud.
The man was granted strict conditional bail to appear before the Downing Centre Local Court on Thursday 5 May 2016.
Fraud & Cybercrime Squad Commander, Detective Superintendent Arthur Katsogiannis said the arrest of this man highlights the co-operation between police and the financial sector in stopping corporate crime in NSW.
“The Fraud & Cybercrime Squad’s Corporate Corruption Team works with financial institutions and other business entities to proactively identify and target employees in a position of trust who are facilitating or enabling fraudulent activity,” said D/Supt Katsogiannis.
“The good work of these investigators should reassure businesses in NSW that police are doing all they can to ensure they can operate in a corruption-free environment.”
The man charged today was the 21st man charged by the Corporate Corruption Team, which has now laid 431 charges to the total value of $44,309,308.22, since its inception 14 months ago.
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