Banking Archives - Nottingham MD

Maryland bolsters cybersecurity with new monitoring service

Posted on October 30, 2024 by Chris Montcalmo

BALTIMORE, MD—The Maryland Department of Labor’s Office of Financial Regulation on Wednesday announced the implementation of SecurityScorecard, a cybersecurity monitoring service, to bolster its supervision of Maryland financial institutions. This move underscores the Office’s commitment to consumer protection in the face of evolving cyberthreats. SecurityScorecard will provide continuous, real-time monitoring of cybersecurity risks for state-regulated banks, credit unions, and other […]

Baltimore County man sentenced for $1.8 million bank fraud scheme

Posted on August 8, 2024 by Chris Montcalmo

BALTIMORE, MD—A Baltimore County man has been sentenced to 48 months in federal prison for his role in a bank fraud scheme that victimized a number of victims and took more than $1.8 million from the banking system. According to the U.S. Department of Justice, Damilola Ojo, 31, of Windsor Mill, took part in the scheme, which used the Internal […]

FBI: Criminals targeting bank, ATM customers in Maryland

Posted on July 18, 2024 by Chris Montcalmo

BALTIMORE, MD—The FBI and local law enforcement partners are investigating a surge of armed robberies, known as “jugging” crimes, at financial institutions in Maryland. At least 21 bank and ATM customers have been victimized by these crimes just in the first week of July. “Jugging” refers to a crime in which a suspect, or group of suspects, targets customers believed […]

Maryland credit union employee sentenced to prison in identity theft scheme

Posted on June 7, 2024 by Chris Montcalmo

BALTIMORE, MD—A former federal credit union employee in Maryland has been sentenced to serve four years and nine months in federal prison after he pleaded guilty to stealing identities and using them to open fraudulent bank accounts. Jalen McMillan, 30, of Jessup, was sentenced Thursday in U.S. District Court in Greenbelt. He will also serve five years of supervised release […]

U.S. Attorney: Maryland man pleads guilty to $250K check theft scheme

Posted on April 4, 2024 by Chris Montcalmo

GREENBELT, MD—The U.S. District Attorney’s Office in Maryland reports that a 26-year-old man pleaded guilty to stealing over $250,000 in checks that were mailed to other people. Kavon Dupree Jackson of Capitol Heights has pleaded guilty to a bank fraud conspiracy that involved using stolen checks that were cashed at several banks. According to his guilty plea, Jackson used a […]

Maryland man gets 6 years for $151K bank fraud scheme

Posted on March 28, 2024 by Chris Montcalmo

BALTIMORE, MD—A Maryland man has been sentenced to 6 years in prison for his role in a bank fraud scheme that obtained more than $151,000 from victims while using fake identities and personal information. According to the U.S. Attorney’s Office in Maryland, Archie Arnold Paul, also known as “Carter Hill” and “Zion Davis,” 31, of Laurel, orchestrated the scheme and […]

Freedom Federal Atlantic Financial Credit Union Merger

Freedom Federal Credit Union, Atlantic Financial Federal Credit Union announce plans to merge

Posted on March 21, 2024 by Chris Montcalmo

BALTIMORE, MD—Freedom Federal Credit Union and Atlantic Financial Federal Credit Union on Thursday announced plans to merge pending regulatory approval and Atlantic Financial FCU member vote. The resulting Credit Union will operate under the “Freedom Federal Credit Union” name and brand. While the combined assets would be approximately $535 million, both Credit Unions would serve a combined membership of over […]

Former Maryland bank employee used position to commit identity theft, bank fraud

Posted on February 22, 2024 by Chris Montcalmo

GREENBELT, MD—A former bank employee has been convicted in a federal court in Greenbelt for conspiracy to commit bank fraud, bank fraud, and aggravated identity theft. Jalen Craig McMillan, 30, of Jessup, faces a maximum prison sentence of 30 years for the conspiracy and for each count of bank fraud. He will also serve a mandatory prison sentence of two […]

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