This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties.  Members and Law enforcement use only. Contact us for any permissions.  To do otherwise will result in the loss of membership.

Complete Story
 

06/05/2026

Former N.J. bank employee pleads guilty to $3.4M fraud scheme

NJ.com

A former TD Bank employee admitted to running two separate fraud schemes that resulted in more than $3.4 million in losses, the District of New Jersey Attorney’s Office announced.

Cheungkin Lam, 28, also known as “Kelvin Lam,” pleaded guilty Wednesday in Newark federal court to conspiracy to commit wire fraud affecting a financial institution and to making false bank entries.

According to federal prosecutors, Lam executed two schemes.

During the first phase, which ran from January through May 2021, he exploited his access as a TD Bank employee to target customers with substantial account balances.
 
He stole confidential customer information and passed it to accomplices who used the information to commit fraud.
 
The second scheme operated from May through August 2022. During this period, Lam paid off an employee at an unnamed financial institution to create fraudulent bank records.
More Info

Printer-Friendly Version


Resources

Alerts

The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.

more information
Resources

Resources

Your electronic library to help in fighting financial fraud for all of our partners.

more information