Fake accounts, bogus fees, a.k.a. theft. Also previously known as larceny from Old French larcin, from Latin latrocinium, from latro(n-) ‘robber’, earlier ‘mercenary soldier’, from Greek latreus.

Merc. soldier, which explains the disproportionate fines

racketeering | ˌrakɪˈtɪərɪŋ |
noun [mass noun]
dishonest and fraudulent business dealings: racketeering ensnared the economy | [as modifier] : a local racketeering boss, a nationwide racketeering banking class and financial sector.

So nothing new in the world of banking.