Computerworld reports an IT contractor gets five years for $2M credit union theft

A man named Zeldon Morris was hired as an IT contractor by four credit unions. Instead of just helping them he also set himself up to receive unauthorized deposits.

In all Morris admitted to stealing about $1.2 millions from First Family, about $82,000 from Alpine, about $635,000 from Deseret and $93,000 from First Credit.

According to court documents the thefts are likely to have gone unnoticed for some time if it had not been for Morris’ partner who alerted Family First of unusually large ACH deposits being made into the joint business account.

The thefts would have gone unnoticed if his partner had not turned him in?

I was asked the other day by a reporter why fraud still happens when so many people know it exists. Great question. My answer may be published in the Sunday paper.