Security Spotlight: New resources to catch thieves, counterfeit items update, and more! 

Modern-day Robin Hood

Corey Allan Donaldson didn't rob a bank for personal financial gain. The 39-year-old Australian native who moved to the U.S. 17 years ago was a self-help author and counselor. When he was left homeless after a "catastrophic business failure" in 2012, Donaldson ended up on the streets sleeping next to other less fortunate members of society. "In a country with so much to give, I was witnessing suffering on a level I didn't think was justified in America," he said. It was then he decided to rob a bank to raise awareness about the plight of America's homeless. He chose a megabank like U.S. Bank in Jackson, WY because he thought that some of the money from a bank that size belonged in the pockets of the people he was meeting. On New Year's Eve, Donaldson scheduled a private meeting with the bank's manager and demanded $2 million from the bank's vault. He allegedly backed up his demand with a note claiming the bank was wired with four military-grade explosives that compatriots would detonate if things didn't go as he asked. He made off with $140,750 - reportedly the area's largest heist in decades. It took 22 days for law enforcement to track Donaldson down. To find him sooner, Donaldson said they should have been searching the homeless shelters and underpasses of Reno, NV.

Between the time of the robbery and his arrest, Donaldson gave away $55-65,000 to homeless people he met on the streets and to charitable organizations, including the Reno branch of Volunteers of America and $15,000 in cash to the Salvation Army headquarters in Reno. Donaldson said he hopes that as a result of his efforts that U.S. Bank and Wells Fargo will form a multi-million dollar fund to assist the nation's poor. In return, he offered to consult with them to point out the flaws he exploited in their security systems. He was quoted as saying he "feels like he showed those big banks that a doofus with no criminal record could break through all their security measures and get away. The amount of flaws in their security system are just unreal. I'd be willing to make it a win-win situation for those banks and help them identify where those flaws are, I just want them to do their part to end suffering in America."

Donaldson was arrested on January 22nd - three days before he said he was going to turn himself in, which was part of his plan to use the robbery to raise awareness of the suffering of the homeless. He's hoping the authorities will see that he's not a villain, but rather a modern-day Robin Hood, and give him a fair shake. We're pretty sure the bank staff he terrorized feels differently.

Work Release Programs, Internal Access and Closing Up are Risky

Work Release Didn't Work

In Seattle, a man robbed a US Bank on New Year's eve. He gave the teller a note claiming he had a bomb, and fled the bank with his loot. The next day he was arrested "having a good time with himself" in the doorway of a local car dealership. Following his arrest, he was incarcerated and placed on a work release program - which typically involves partial confinement while offenders continue their employment or transition back into society. That concept didn't work out so well for this inmate who was captured on video surveillance robbing a Kay Bank branch shortly after he left jail to go to work. He was arrested and returned to jail.

A Fatal Sentence for Embezzlement

One of our February Facebook posts (below) reports on a $6 million embezzlement scheme that was carried out over a 10 year period to feed a gambling habit. If that thief had stolen $2.6 billion over two years - in Iran - the outcome would have been a death sentence. Iran's supreme court sentenced four people to death for a $2.6 billion embezzlement scheme. An Iranian banking official who was also arrested was sentenced to life in prison.

A Lighter Sentence for Embezzlement

While serving as former VP of Security and Human Resources at the Bank of Commerce in Idaho Falls, Deanne Marie Cottle converted 31 checks worth $142,000 from health insurance carriers to the bank, and then used cashier's checks to deposit the money in her personal account at a credit union. She was ordered to serve 15 months in prison for the crime as well as two years of supervised release, and pay a $2,000 fine. U.S. Attorney Wendy Olson credited the FBI and the Financial Fraud Enforcement Task Force for their efforts in prosecuting Cottle. (Editors note: Really, a $2,000 fine?)

The Dangers of Closing

In Bringham City, Utah, while a local Chase Bank branch was closing at 6:00 p.m, before staff had locked the doors a gunman entered and demanded cash. Only two tellers were present, one of which had already closed out her drawer and sold back much of her cash. Not pleased with his take from that teller, the bandit spotted the second teller at the drive-up window and demanded her cash as well. The tellers complied with his demands and called 911 as soon as he left the bank. Two blocks away the thief spotted a pickup truck pulling into a driveway and demanded the vehicle from the driver at gunpoint. With a 4-year old child buckled in the truck, the armed bandit struggled with the child's mother as she removed the child and then fled in the stolen vehicle. With police in pursuit, he crashed into a concrete barrier, got out and struggled with a sheriff's deputy who had to be treated for bruises and bites. This dangerous bandit was armed with a fully loaded 9mm pistol. The tellers followed proper training in meeting his demands, getting him out of the bank, and contacting police immediately. The situation could have been worse.

Hot Topics from the Bankers' Threads

If you are looking for peer-to-peer discussions with other security officers, the public security forum is available for general topics about security. One banker has commented that they're now getting Skype calls that appear to be fraudulent and wonders if other banks are getting similar calls.

A security officer is wondering when banks generally train their new hires. Another security officer is looking for a way to contact law enforcement without violating privacy requirements. One solution is discussed in this thread.

We also have a "private" security forum for discussion of more private, sensitive topics. The private security forum has discussions between security officers that include vendor products, the inadequate sentences for embezzlers and other criminals, debit card transactions, large deposits, email encryption, and more.

To comment in Bankers' Threads you must be a registered user. You can register here. If using your bank email account, you will be given access to the private forums. The Private area is a group of forums under the heading "Private - Financial Institution Personnel Only." The Private forums do not include access to Bankers Hotline or Compliance Action, premium content areas that require paid subscriptions to those respective publications.

If you are already registered for the Threads, but don't yet have access to the private forums, using your bank email address send a request for access to andyz@bankersonline.com. Please verify that you do not yet have Private access. Once your registration request is approved, you can access the Private Security forum here.

Recent CrimeDex alerts actions

"We do it all" might be the motto for a Florida/Georgia ID theft ring that's apparently been active since November 2012. Online account opening using legitimate consumer ID information, funding from a stolen credit card, and cash withdrawals from various ATMs are the hallmarks of the group, with a scattering of empty envelope ATM deposits just to keep things interesting. Some of the most recently opened fraud accounts have been funded using unauthorized ACH transfers from other institutions.

A mid-month alert from Clearview Federal Credit Union warned that its official checks have been counterfeited in amounts between $1980 and $2480, and used in connection with online employment ads. The checks have appeared in at least six states all over the country. The credit union is located in southwest Pennsylvania, with one office in North Carolina. The Secret Service posted an alert involving a stolen $11,000 check deposited to an account of an ID theft victim whose personal information has been used to open accounts in New Jersey, Pennsylvania and New York. Finally, a Basking Ridge, New Jersey, credit union reported that fraudulent checks drawn on a member's account were being deposited in several other New Jersey financial institutions.

Keep up on the latest scams, crimes and other threats facing your bank and other businesses with a free subscription to BOL CrimeDex

On our BOL Facebook page, we had a number of relevant posts containing useful information you may want to share or use for training employees about security issues. Our Feb. 4 post chronicles a bank robber in South Carolina who pleaded guilty to more than 30 counts of armed robbery, kidnapping and attempted murder plus other crimes. You wouldn't have wanted this guy in your bank. Read about a female bandit in D.C. who robbed two banks within 15 minutes in our Feb. 7th post.

In a report that will leave you shaking your head, read about a VP with 27 years at a $60 million bank who embezzled $6 million over a ten year period in the Feb 25th post. And, with your head still shaking, one day later on the 26th you'll find a post about Saquib Kahn, who was kiting checks and using overdrafts to the loss of $82 million in less than 60 days.

Also on Feb 26, we highlight some identity theft statistics for 2012 from the Javelin Strategy & Research report. There is good news and bad, but overall the results point to the need for ID theft training for both employees and customers to be on your To Do list.

Read about these topics and more on our Facebook page. Be sure to "like" the articles so we can continue to post more articles of interest to you!