Luxury watches, loans, false names Zurich official steals from dozens of unemployed people
One click is all it takes - and suddenly loans, accounts and debts exist in someone else's name. A major scam from Zurich shows how susceptible digital banking is to data misuse and the serious consequences this can have for those affected.
No time? blue News summarizes for you
- The Zurich public prosecutor's office is investigating a major case of fraud with alleged losses of around CHF 500,000.
- An unemployment insurance employee is alleged to have passed on sensitive data to her partner, which was used for credit and goods fraud.
- Numerous victims are affected and several banks are involved.
A case of fraud with far-reaching consequences is currently occupying the public prosecutor's office of the Canton of Zurich. As reported to the consumer magazine "Espresso", numerous victims and several banks are affected. It is estimated that around half a million Swiss francs have been lost.
It concerns the alleged misuse of sensitive personal data. According to a ruling by the public prosecutor's office, which is available to SRF, an employee of the unemployment insurance fund of the canton of Zurich allegedly passed on identity documents and personal details of unemployed people to her boyfriend. The latter allegedly used the data to open bank accounts, apply for loans and finance expensive goods in the name of the persons concerned.
The criminal charges are serious. According to the documents, they include fraud, forgery of documents, falsification of identity documents, theft and the unauthorized acquisition of personal data. The offenses are said to have occurred between summer 2021 and November 2022. Around a dozen people are being investigated, some with foreign connections.
Vulnerabilities in digital banking processes
The consequences that fraud can have for individuals are illustrated by the report of a victim in "Espresso". A luxury watch worth almost CHF 9,000 was bought on credit in his name, a loan of CHF 30,000 was taken out and several bank accounts were opened. The man only noticed the fraud in spring 2022, when he kept receiving new invoices and bank statements. He is still feeling the effects today, particularly through negative entries in credit rating databases. The situation is extremely stressful for him, he says, as it is almost impossible to come to terms with what he has experienced.
The case draws attention to weaknesses in digital banking processes. Accounts can be opened and loans taken out online at many banks. Identity checks are often also carried out online. Banks accept certified copies of identity documents, for example from the post office or SBB. SBB emphasizes that authentications are only issued upon presentation of the original ID at the counter and that copies are not accepted. How the alleged perpetrators nevertheless managed to use the relevant documents is part of the ongoing investigation.
According to the public prosecutor's office, the investigations are particularly complex due to the large number of people involved and the complex situation. It does not wish to provide a substantive assessment of the case at present. The presumption of innocence applies.
