TD Bank employee indicted for identity theft and fraud schemes

In a shocking turn of events, Daria Sewell, a former employee of TD Bank’s anti-money laundering department, has been indicted in New York for allegedly stealing personal identifying information from customers. This indictment, announced by the Manhattan district attorney, comes on the heels of TD Bank’s recent guilty plea to violating U.S. anti-money laundering laws, resulting in a staggering $3 billion fine.

Allegations of identity theft and fraud

According to the indictment, Sewell is accused of unlawfully possessing and distributing sensitive customer information via Telegram, a platform notorious for facilitating illicit activities. Alvin Bragg, the Manhattan district attorney, stated, “This defendant allegedly abused her access while working in TD Bank’s anti-money laundering department to steal from the bank’s own customers.” The investigation revealed that Sewell had images of 255 stolen checks and personal details of nearly 70 customers, including names, addresses, and social security numbers.

Connection to larger fraud scheme

The charges against Sewell are part of a broader investigation into a check fraud scheme that has implicated five other individuals. These suspects allegedly collaborated with Sewell to devise strategies for committing fraud, leading to losses totaling nearly $500,000. The indictment suggests that Sewell not only facilitated the theft of customer data but also instructed accomplices on how to open bank accounts to deposit the stolen checks, splitting the profits with them.

Impact on TD Bank and regulatory scrutiny

This incident raises serious questions about TD Bank’s internal controls and its commitment to preventing financial crimes. The bank’s recent legal troubles, including a record penalty imposed by Canada’s financial intelligence agency for lax money laundering controls, have drawn criticism from lawmakers and consumer advocates alike. U.S. Senator Elizabeth Warren has been vocal about the need for accountability, arguing that corporate executives have escaped the full consequences of their actions, allowing the bank to operate as a “criminal slush fund.” As investigations continue, both TD Bank and its customers are left grappling with the fallout from this alarming breach of trust.