June 21, 2018

A fraudster who abused his position at a high street bank to enable fraud worth a total of £122,000 has been sentenced to two years and six months in prison today at Southwark Crown Court.

Mathew Borisade, 27, of Newmarsh Road, Greenwich, pleaded guilty to fraud by abuse of position and possession of articles used to commit fraud.

Whilst employed at a NatWest bank branch in St John’s Wood, Borisade was found to have looked up images of customers’ signatures and other account details held on file by the bank and supplied them to fraudsters. Following Borisade’s arrest, images of customers’ signatures were recovered from his mobile phone.

These details were subsequently used to commit £122,000 of fraud between February and August 2016, with £120,000 in fraudulent cheque payments and another £2,000 of online and emergency cash transactions. Around £6,000 of cash payments were made to the defendant’s account in the same period, which are believed to be payment for his role in the fraud.

The fraud was identified through an internal audit process at the bank, which found Borisade to be the source of several compromised cheques. It was then referred to the Dedicated Card and Payment Crime Unit (DCPCU) who investigated the case. All victims were refunded.

Detective Constable Bryn Jefferies, of the DCPCU, said:

“This man callously abused his position to defraud customers and is now facing the consequences.

“This sends a clear message to would-be fraudsters that they will be caught and face the full force of the law.”

Ends

For more information, please contact the DCPCU press office on 0207 416 6750 or press@ukfinance.org.uk

Notes to Editor

  1. The Dedicated Card and Payment Crime Unit (DCPCU) is a unique pro-active police unit, with a national remit, formed as a partnership between UK Finance, the City of London Police and the Metropolitan Police together with the Home Office. It is fully sponsored by the cards and banking industries, with an on-going brief to investigate, target and, where appropriate, arrest and seek successful prosecution of offenders responsible for card, cheque and payment fraud crimes. It is headed up by a Detective Chief Inspector and comprises officers from the Metropolitan and City of London police forces who work alongside banking industry fraud investigators and support staff. Established in April 2002, the DCPCU has since achieved an estimated £486 million in savings from reduced fraud activity.