ALBANY, N.Y. - (01/17/05) -- A bold three-year identity schemewas ended last week when a 24-year-old local woman confessed tousing nine different aliases to defraud retailers, landlords andseveral credit unions out of $63,000. Shaquana Wright pleadedguilty to one count of first degree scheme to defraud, four countsof first-degree identity theft and one count of third-degree moneylaundering. Wright used false credentials to create checkingaccounts at Sunmark FCU, State Employees FCU, Charter One Bank,TrustCo and KeyBank, then would write checks from one assumedidentity to another and cash the check with an appropriateidentification. Write was also known as Natalie Lewis, ShaquanaTurner, Shameeka Chaney-Artis, Mikiya Orr, Virginia Carolyn Medleyand Tiffani Poindexter, among other identities.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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