Former Bank of America Employee Sentenced for Internal ATM Fraud
ATMs have been largely resistant to widespread fraud using software from outside, but remain vulnerable to schemes which infect the machines with corrupted software from inside
A former Bank of America information technology employee in Charlotte, N.C., has been sentenced to 27 months for having done just that at the bank.
According to media reports and court documents, Rodney Caverly admitted guilt in the U.S. District Court for Western North Carolina to one count of fraudulent access to a protected computer for his scheme which, court documents say, wound up costing the bank $419,000 in both losses directly from the theft and costs to remove the corrupted software from the machines.
Court documents reported that the software allowed Caverly to remove money from the machines without leaving a record. Documents relating how authorities detected the scheme remained under seal.
Caverly will have to repay the bank the $419,000, according to the sentence.