They use sham bank accounts and online marketplaces to create “drop accounts” to steal from almost anyone and some banks do little to fight the fraud. One victim: the Illinois EPA.
First Ottawa Bancshares, Inc. Declares Dividend Company Release - 05/17/2023 4:00pm Ottawa, Illinois, May 17, 2023. First Ottawa Bancshares,. | May 19, 2023
Regulators covered Silicon Valley Bank and Signature Bank customers' money, and will need to replenish the Deposit Insurance Fund with higher assessments. But smaller banks don't want to pay for larger banks' mistakes.