An employee at WSFS Bank was arrested for reportedly taking $44,000 from an account of a deceased customer.

The accused, Latia Wynn, faces charges of identity theft, disguising during a felony, and theft over $1,500.

In a similar situation, bank employee Jorge Nova admitted to wire fraud for emptying $105,000 from a deceased customer’s account.

WSFS Bank employee arrested for alleged theft from a deceased customer’s account highlights the importance of improved security in financial institutions.

WSFS Bank Employee Accused of Fraud

Latia Wynn, who works at WSFS Bank, was arrested for withdrawing $44,000 from the account of a deceased customer. Family members of the deceased noticed the missing money while closing the accounts. Wynn faces charges of committing identity theft, wearing a disguise during a felony, and theft over $1,500.

Similar Fraud Case

In a comparable scenario, Jorge Nova, an employee in New Jersey, confessed to wire fraud for taking $105,000 from a deceased customer’s account. The account continued to receive Social Security benefits after the customer’s passing, which Nova allegedly exploited. These cases emphasize the necessity of stricter security and oversight in financial establishments.

Implications for Financial Institutions

These incidents stress the need for strong security measures in financial institutions. Banks must ensure their internal systems are secure and that employees undergo thorough vetting to prevent such occurrences. Additionally, there must be rigorous checks in place to detect any suspicious activity in customer accounts, particularly those of deceased customers.

Conclusion

While these incidents are isolated, they serve as a clear reminder of the potential weaknesses in the banking industry. Financial institutions must continuously update and enhance their security procedures to safeguard their customers’ assets. Furthermore, regulatory bodies should enforce stricter penalties to discourage potential fraudsters.