24-07-08
HSBC: Details of Attempting Fraud

A British bank employee has been sentenced to a nine-year prison sentence for attempting a 90 million pounds (US$141 million) fraud using identities stolen from his colleagues.

Jagmeet Channa, who worked at HSBC headquarters in London’s Canary Wharf, used the stolen IDs to raid a trading account at HSBC and transfer 30 million pounds to a Barclays Bank branch in Manchester, UK and 60 million pounds to a bank in Casablanca, Morocco.