A US financial institution supervisor is accused of embezzling tens of 1000’s of {dollars} from an aged buyer’s account and her personal department vault.
The U.S. Federal Reserve says Sandra Adams, a former department supervisor and assistant BSA officer of the Illinois-based financial institution till she was fired on July 10, 2024, has been sanctioned for stealing $16,000 from an aged clients’ account and $4,000 instantly from the financial institution itself.
“In a sequence of transactions from November 2023 by way of July 2024, Adams misappropriated over $16,000 from an aged Financial institution buyer’s account, and she or he embezzled roughly $4,000 from the department vault and her personal teller drawer, leading to a complete loss to the Financial institution exceeding $20,000.”
On account of her actions, which the Fed stated constituted violations of the regulation, laws, and the financial institution’s insurance policies,
Adams is banned from additional taking part within the banking business ever once more.
It’s unclear what Adams did with the stolen funds.
“Adam’s conduct constituted violations of regulation or regulation, unsafe or unsound banking practices, or breaches of fiduciary obligation, and concerned his private dishonesty and his willful and persevering with disregard for the protection and soundness of the Financial institution.”
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