- FAO warns seafood sector highly vulnerable to widespread food fraud
- Seafood fraud includes adulteration, species substitution and false labeling
- FAO urges stronger traceability, regulation and genetic testing technologies
Global seafood output reached 185.4 million metric tons in 2022, with trade valued at $195 billion. But a report published by the Food and Agriculture Organization (FAO) at the end of February has highlighted the scale of food fraud in the sector, a problem threatening public health, consumer confidence and market stability.
A Sector Particularly Vulnerable
The fishing and aquaculture industries are particularly vulnerable to fraud. According to data compiled in the report, the probability of fraud in the sector is estimated at 20.6%, well above levels recorded for meat (13.4%) or fruit and vegetables (10.4%).
According to the FAO, this vulnerability stems partly…
THE TD BANK INSIDER “BRIBE-FOR-DATA” SCHEME (USA)
Date: February 17, 2026 Perpetrator: Edward Low (Former Bank Employee)
Case Description: In a high-profile case of “Insider Threat,” Edward Low, a former employee of TD Bank in New York, pleaded guilty in a New Jersey federal court to accepting bribes in exchange for confidential customer data. Between 2021 and 2022, Low leveraged his internal access to harvest the personal details of high-balance account holders. He then sold this “hot data” to external fraud syndicates for as little as $26,700 in personal kickbacks.
The external fraudsters used the information Low provided to conduct “Account Takeovers” (ATO), creating fraudulent checks and falsifying bank records to drain over $500,000 from unsuspecting customers. Low even went as far as helping co-conspirators open shell company accounts at a second financial institution where he was later employed. He now faces a maximum penalty of 30 years in prison. This case has sent shockwaves through the global banking sector, highlighting that even the most robust external firewalls cannot protect against a “rogue insider” with administrative credentials.
Link to Original: US Dept of Justice – TD Bank Insider Plea