When Republicans in Congress were developing the Working Families Tax Cuts (WFTC) last year, members from across the conservative spectrum signaled their intention to offset new spending and revenue loss by reducing government spending. This is easier said than done. Programs throughout the federal government are saddled with unneeded spending, with many taxpayer dollars going to unintended recipients, fraudsters who skim money that is meant for others, and some Americans who simply don’t need the money. Assessing the scale and scope of these issues can be difficult, partially due to obfuscated government data reports. Once a problem is identified, it can be very hard to fix, thanks to entrenched special interests who benefit from this government largess. As a result, it takes real fortitude to do the work needed to actually cut waste, fraud, and abuse. But the Working Families Tax…
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