BIRMINGHAM, Ala. – A Sumter County man has been sentenced for his role in a multi-state bank fraud scheme, announced U.S. Attorney Phillip W. Williams Jr.
U.S. District Judge Anna M. Manasco sentenced Eddarrius Tyjuan Wallace, 37, of York, Alabama, to 60 months in prison and a $25,000 fine. In May, Wallace pleaded guilty to conspiracy to commit bank fraud and bank fraud.
“This type of fraud is a double problem: it steals money from the federal government and undermines the integrity of our banking system,” said U.S. Attorney Williams. “My office will continue to work closely with our law enforcement partners to investigate and prosecute those who steal from the government and manipulate the financial system for personal gain.”
“The Treasury Inspector General for Tax Administration (TIGTA) aggressively investigates individuals who attempt to exploit U.S Treasury refund checks meant…
This remains the most prevalent form of financial crime globally. It targets the direct access points to your money: your cards and your bank accounts.
- Skimming: Criminals use small devices called “skimmers” placed over ATM or point-of-sale card slots to capture the data from your card’s magnetic strip.
- Card-Not-Present (CNP) Fraud: This occurs during online shopping where a physical card isn’t required. Thieves use stolen card numbers, expiry dates, and CVV codes to make unauthorized purchases.
- Account Takeover (ATO): A hacker gains access to your online banking credentials (often through malware or phishing) and changes the contact details or passwords, locking you out while they drain your funds.