back to article JP Morgan bank bod accused of flogging customer account info

The FBI has charged a former JP Morgan employee with selling customer information to thieves who wanted to empty accounts without triggering any alarms. Unsealed court records [PDF] recount that Peter Persaud, who worked at JP Morgan's Brooklyn branch, contacted an undercover FBI informant, and allegedly offered to sell him …

  1. Spaceman Spiff

    Who would have known?

    Jeez, who would have known that a banker could be unethical!

    1. Anonymous Coward
      Anonymous Coward

      Re: Who would have known?

      "who would have known that a banker could be unethical"

      But this is small time unethical, and that's wrong and must be punished. If, however, you're in the Eccles Building, debasing the world's reserve currency and thus stealing billions from ordinary people to make the rich richer, then that's fine. And likewise, if you're so unethical in your pursuit of big bonuses that you bring the financial system to its knees by undue risk taking, and need bailing out at taxpayer expense, then that's fine too.

      Moral of the story: Justice is for little people. In other news, Pope reportedly has balcony; Bears find use for woods.

  2. Bob Dole (tm)

    Seriously, how many times did the FBI need to have absolute proof the guy needed to go to jail before they finally nabbed him?

    I guess the moral of the story is: don't sell illegal info to the same person more than once.

    1. Mark 85 Silver badge

      I'd say, that one time and then arrested would get him a slap on the wrist if a good attorney is involved for the defense. "Poor kid.. hoodwinked and led astray.. have mercy". So they do what they've done in the past on a lot cases.. lead them along and the more incidents/thefts/whatevers, the stronger the grounds for conviction and heavy sentence.

    2. Shannon Jacobs
      Holmes

      Want to bet on an entrapment defense?

      Three thought experiments:

      (1) This is just the tip of an iceberg, which is frightening or even threatening.

      (2) It actually is some kind of entrapment and this guy was targeted for some reason.

      (3) It's a new joint venture between the bank and the FBI for testing the ethics of bankers.

      1. Anonymous Coward
        Anonymous Coward

        Re: Want to bet on an entrapment defense?

        "(2) It actually is some kind of entrapment and this guy was targeted for some reason."

        If the article is correct, you have to wonder why the crim contacted an undercover FBI agent to sell the info. The odds of this happening by chance would seem to be vanishingly small.

        He presumably believed he would get away scot free, and rather worryingly that says that he knew or believed that JPM's systems allowed access to all of the necessary data and wouldn't leave a digital footprint that audit systems would pick up, even if he'd not been trying to sell to the Feds.

        1. Andrew Meredith

          Re: Want to bet on an entrapment defense?

          @Ledswinger "He presumably believed he would get away scot free, and rather worryingly that says that he knew or believed that JPM's systems allowed access to all of the necessary data and wouldn't leave a digital footprint that audit systems would pick up, even if he'd not been trying to sell to the Feds."

          From the article it appears that he "noted down" details on high value customers. I read that as he was already accessing their info and also jotted it down. I would suspect that this is not caught by the auditing as he (presumably) had a good reason for being in front of those details in the course of his work.

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