Banker Accused of Stealing $440,000 from Customers in Two Months

An associate banker at a large national bank has been accused of stealing approximately $440,000 from two retail bank customers over a span of just two months. The incidents occurred while the banker, Sixto Christopher Porras, was stationed in San Francisco. According to the Northern District of California’s U.S. Attorney’s Office, Porras managed to drain the bank accounts using the customers' existing debit cards or replacements.

The first incident took place in August 2023. A customer visited the bank to conduct a wire transfer. During the transaction, Porras obtained the customer's security personal identification number (PIN) associated with their debit card. Unbeknownst to the customer, Porras retained the debit card and proceeded to use it to embezzle approximately $100,000 from the customer's account.

The second incident occurred about a month later in September 2023. Another retail bank customer visited the branch to address a fraudulent charge. While assisting the customer, Porras obtained the security PIN associated with the customer’s debit card. He then arranged for the customer’s debit card to be reissued and sent to his San Francisco residence. Porras allegedly used the debit card to embezzle approximately $340,000 from the customer’s accounts.

Porras, who no longer works with the unnamed bank, is now facing charges of embezzlement of bank funds and access device fraud. For the embezzlement charge, Porras could face a maximum of 30 years in prison and a $1 million fine if convicted. The access device fraud charge carries a maximum of 15 years in prison and a $250,000 fine if convicted.

This case highlights the vulnerabilities within the banking system and the potential for insider threats. The ability of an insider to obtain sensitive information such as PINs and debit card details underscores the need for enhanced security measures and stricter protocols to prevent such incidents. Banks must implement robust training programs for employees and advanced monitoring systems to detect and prevent fraudulent activities. Additionally, customers should be educated on the importance of safeguarding their personal information and being vigilant about unauthorized access to their accounts.