Fraud insights: Ally Bank spoof, OCC enforcement, and HELOC fraud
Quick Headlines
- Ally Bank targeted via FBI-agent spoof, attempted bank-fraud play
- Connecticut indictment alleges stolen-check scheme hitting bank accounts
- OCC releases August enforcement actions with governance signals
- Loan officer HELOC manipulation case moves toward sentencing
Key Stories
Ally Bank spoof via fake FBI authority
DOJ reports a Texas suspect posed as an FBI agent and attempted to defraud Ally Bank for about $93,000. Charges include attempted bank fraud and identity theft. Announced August 20, 2025. Source
Takeaway: enforce out-of-band callbacks for wires and ACH, train staff to treat authority pressure as a red flag, and tighten beneficiary-change rules.
Stolen-check ring indictment in Connecticut
Indictment alleges a stolen-check and bank-fraud scheme affecting bank accounts in Connecticut; arraignments are scheduled this week. Announced August 22, 2025. Source
Takeaway: raise scrutiny on altered payees and changed addresses, and use repeat-presentment and maker-payee pattern rules. TrueChecks and Positive Pay by AFS both run AI-powered payee analysis.
OCC August enforcement actions
OCC published August enforcement actions that highlight governance and insider-control themes relevant to fraud prevention. Posted August 21, 2025. Source
Takeaway: confirm dual control and segregation of duties for ACH and wires, strengthen exception-item oversight, and improve board reporting on fraud losses and claims.
Loan-officer HELOC manipulation case
Coverage notes a former Massachusetts loan officer used coworkers’ credentials to inflate a personal HELOC over years; sentencing expected. Published August 22, 2025. Source
Takeaway: monitor privileged access, alert on unusual line increases and rate changes, and require dual approvals.
FI Lessons Learned
- Ensure tellers and contact-center staff verify urgent requests through known channels, not caller-provided numbers.
- Confirm ACH and wire platforms enforce callbacks for new beneficiaries and high-value first-time payments. Or leverage tools like TrueACH & TrueWire for real-time validation.
- Use payee verification and Positive Pay for business clients to block altered checks.
- Review admin access on loan and deposit systems; log and alert on all limit changes.
