HSBC is back in the news again today. This time for a more positive reason than last we checked in on them. It appears that a rogue employee decided it was pay day. I guess he saw “Catch me if you can” one too many times.
From the Reg:
An HSBC worker has been charged after police were called in to investigate an alleged attempt to defraud the bank out of a whopping £70m.
City of London police have charged Jagmeet Channa, a 25-year-old from Ilford in Essex, with conspiracy to defraud, money laundering, and abusing a position of trust. Three other men have been bailed on related offences. Channa will appear in court on 25 June.
Channa was reportedly a back-office worker at the bank rather than a trader.
Nice and subtle. Well, never said he was smart.
The good ole insider threat cliche rings loud yet again.