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IT insider admits stealing info for 2,000 bank employees

Makes off with $1.1m

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A former IT worker for the Bank of New York has admitted to stealing personal information of 2,000 employees and using it to steal more than $1m from charity bank accounts, city prosecutors said.

Adeniyi Adeyemi, 27, used his position as a contract computer technician at the bank's headquarters to steal the personal identifying information of 2,000 employees, most of whom worked in the IT department. Over an eight-year span, he used the information to set up dummy bank accounts in the employees' names and then transfer stolen funds from at least 11 charities throughout the world.

Adeyemi used publicly available routing numbers for the charities to initiate wire transfers through financial sites such as ETrade and Fidelity and deposit them into the dummy accounts. To better cover his tracks, he then transferred the funds to a second layer of dummy accounts, according to a press release issued by the New York City District Attorney.

Adeyemi also used the stolen employee data to steal directly from his co-workers by changing the contact information with their banks and taking control of their online accounts. In all, his scheme netted $1.1m, prosecutors said. To prevent his scheme from being detected, he structured transfers to be just below the $10,000 threshold that requires financial institutions to report the transactions to authorities.

Adeyemi pleaded guilty to grand larceny, money laundering, and computer tampering. Sentencing is scheduled for July 21. ®

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