(ABC 6 News)–The bank fraud suspect allegedly tied to fraudulent withdrawals across southern Minnesota is not believed to be local.
The Blue Earth County Sheriff’s Office made that announcement Monday, adding they’re making efforts to confirm the person’s identity as the investigation continues. The sheriff’s office added additional information will be released when its available.
Last week authorities asked for help identifying a woman they believed was connected to fraudulent bank withdrawals in southern Minnesota.
The sheriff’s office says personal information belonging to other people was used at local banks between May 7 and May 13 to withdraw money from existing home equity lines of credit.
The activity happened in Waldorf, St. Peter, Eagle Lake, Hutchinson and Rochester, with losses topping $30,000.
Anyone with information is asked to contact the Blue Earth County Sheriff’s Office…
MANAGEMENT & CULTURE (THE “TONE AT THE TOP”)
Fraud thrives in “sloppy” environments where leadership ignores the rules.
- The Fraud Triangle: For fraud to occur, three elements must be present: Pressure (the need for money), Rationalization (thinking “I deserve this”), and Opportunity (weak controls). You can only control the Opportunity.
- Whistleblower Hotline: Provide an anonymous way for staff to report “odd behavior.” Most internal frauds are caught via tips, not audits.
- Background Checks: Conduct credit and criminal record checks for all employees in financial or data-sensitive roles.
- Annual Ethics Training: Make sure every staff member knows that the company has a Zero Tolerance policy toward “borrowing” from petty cash or fudging overtime.