Former bank employee who wore many hats (including BSA officer) barred for embezzling $491k

A former employee of First Community Bank of Beemer, Neb., has been barred from future service in any federally insured financial institution under a consent order with the Federal Reserve Board that says she embezzled some $491,000 from the bank’s general ledger accounts.

Diane Ludwig, according to the order, embezzled the funds between December 2013 and May 2018, when she was employed as the bank’s cashier, Bank Secrecy Act (BSA) officer, IT officer, and lending compliance officer. Her actions “constituted a violation of law, an unsafe or unsound practice, and/or a breach of her fiduciary duties” to the bank, the order states.

Federal Reserve Board issues enforcement action with former employee of First Community Bank

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