Rep. Harris’ plan cracking down on gift card fraud becomes law
Michigan families will be better protected from gift card scams, thanks to a new law spearheaded by Rep. Mike Harris.
Harris, R-Waterford, led the bipartisan effort to create stronger penalties for a growing problem that has cost consumers and retailers millions of dollars.
“When someone spends their hard-earned money on a gift card for a family member or friend, they should be able to trust that the money will be there when it’s time to use it,” said Harris, R-Waterford. “This new law provides a real solution to a growing problem. It gives law enforcement and prosecutors stronger tools to crack down on organized criminals who are stealing from Michigan families.”
Harris, a retired police sergeant, worked with state Rep. Samantha Steckloff, D-Farmington Hills, on the bipartisan legislation after hearing…
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