Bank's Security Under Scrutiny After Investigator Took $1.2m
Sydney Morning Herald
Saturday October 6, 2007
SECURITY at the nation's largest bank, the Commonwealth, has come under scrutiny after it took more than three years to discover that one of its senior fraud investigators had stolen $1.2 million.
Christian May, 34, used his position to steal Commonwealth Bank customers' passwords, addresses, phone and account numbers to get 87 credit cards and nine debit cards over the past four years.He defrauded the bank while working in its group security unit between August 2003 and January this year. But it was not until late last year that the bank began investigating him.Hearing a civil case in the Supreme Court, Justice Paddy Bergin said May was "exquisitely placed to perpetrate the conduct"."He was obviously very clever and very cunning, and secreted himself into the very place where it was so easy for him to pretend to be the very people he was there to serve," Justice Bergin said. She ordered him to repay the money to the bank. May has also been convicted of criminal charges of obtaining money by deception. The complex scam used credit cards applied for over the internet in the names and addresses of current customers - most of whom were unaware of the fraud. Only 20 customers complained to the bank.May preyed on male customers who had been with the bank for at least three years. Most had more than $5000 in their accounts. After picking up the cards from post office boxes, he used them to withdraw cash from automatic teller machines. He tried to cover his tracks by wearing sunglasses and a cap when using ATMs but was caught when the bank hired detectives to film him using ATMs. He also tried to make the applications appear authentic by setting up mobile phone voicemail messages. His colleagues recognised his voice on the recordings. May did not appear at the civil trial.
© 2007 Sydney Morning Herald
