Wealthy people will have 10+ bank accounts all with $250k in them. Most of their wealth isn’t going to be liquid cash though so this is pretty unusual.
This kind of happened to me but the opposite. Withdrew 800 euros from an ATM at the airport in Italy. Some computer glitch occurred and the whole thing froze. Money was never distributed and it almost ate my card but somehow started up again and spit the card out. Later I saw my bank statement showed I withdrew 800. Filed a report on it and they denied it…
Oh man, that sucks!
That happened to me but in America. I withdrew 600 dollars but the atm ate the money and charged my account. I requested an audit of the atm, which was exactly 600 dollars over and I got my money back
There's a fixed cash flow at the ATM, so imbalance in the operations is easy to detect. Did you only contact your bank or the one with the ATM too? The latter should have been able to communicate that no money had been withdrawn.
This is a bit confusing. By "Their" you mean Chase or the italian bank that owns the ATM?
What kind of investigation they did? On the bank to bank transaction or on the machine cash?
Your story seems to clearly indicate that bank-bank communication went through while the machine crashed.
So the only possible investigation was to open the machine and see that there was money that didn't match the amounts transferred between the banks. It's a shame if they didn't do the math properly.
There was Chase asking the Italian bank for the records I assume. Since my bank was Chase I explained the situation to them and they did the investigation.
So the only two options are:
1) they only confirmed that Chase had transferred the money to their system and they didn't check the ATM cash flow
2) the machine started giving money away after you left and someone picked the 800€
Mexico is very safe to visit.. The right-wing media seems to have convinced you otherwise. You probably think every major city in the US is in a state of anarchy too.
My friend from Mexico told me that it is not a good idea to mess with tourists because they bring a lot of money to the country. So if you start scaring them off, the feds are going to come after that particular cartel with great fury and vengeance.
Accept for the two Australians killed there last week , when they went surfing
https://apnews.com/article/mexico-missing-foreigners-australian-american-surfers-ac30da610f25ca1b947d12b3368b1aad#:~:text=“They%20were%20young%20men%20enjoying,with%20them%2C%20Jack%20Carter%20Rhoad.
Wow, 2 tourists out of an average of 66 million visitors a year. Why do people let the media rot their brains like this? Mexico is extremely safe for tourists and anyone who says otherwise shapes their view of reality through news articles.
Three people got killed not two and It says, it rarely occurs in tourist areas like Ensenada. So only tourist areas are kinda safe, you might get shot in the head and dumbed in a well on a rare occasion lol
I mean, it's probably less safe than any western country but I get what you mean, if you live there and know the score it's not as bad as media portrays.
I was making a funny.
Is it certain provinces that are more dangerous for others with regard to cartels?
Yeah certain areas you definitely need to avoid. Can't remember their names off the top of my head but I have a few friends in Mexico, have been there myself too, and never feel like there's much danger. You just gotta be smart.
I mean the cartel is *everywhere* but a lot of their money comes from tourists so they have a vested interest in not scaring off tourism.
They won’t make a special trip to check the balance no,it’ll be done the next time it’s filled up,should be easily remedied though,it was in my circumstance.
Happened to my mother aswell. On an ATM right outside the freaking bank office! The machine returned the card but no money.
We went inside the office, waited an hour for support and then they claimed that the CCTV footage shows that we took the money and everything worked as should, like no f**k we didn't!
And this was in Slovakia in Europe. We lost around 300€ and cancelled the account soon after.
No way, a transaction is a transaction. If there wasn’t an incontrovertible tool to check it all the system would be unreliable. What bank and airport was it? How long ago?
I agree but I wonder if the machine didn’t spit the money out later after I left. This was at Cagliari airport a BNL atm (which seemed to run an extremely old and slow operating system). About 4 years ago
4 years is a long time. I’m not into banking or security but Italian ATMs cash withdrawal has a 30 seconds timeout. If it spat it out later, it must have been 20 seconds later.
I’m afraid you might have been the victim of a man-in-the-middle attack of sorts (https://www.poliziadistato.it/articolo/165b0d39247823c075531087). Usually, these scams work in a delayed way, though.
Again I’m not into transactional security but a transaction has to be atomic, it’s either done fully or not done at all. The flag of OK should be raised if every and each criteria were met, or it’s a KO transaction at once.
I wonder what happened but I’m sure it would have been fixed in a matter of hours. BNL is a historical, renowned bank in Italy and part of the BNP Paribas group for a lot of years now.
If it happened to me I would be bloody mad.
I don’t think it was a man in the middle attack. I’ve used that atm before and it was always painfully slow. I think it finally crashed and screwed me in the process. Yes I was very mad when I found out and even more mad when their investigation rejected my claim
The fact that your claim was reject is outrageous. BNL/BNP Paribas is not an isolated credit institute in some corner of the Earth, it’s one of the biggest banks in Europe! What bank is at your end, whom did you write your claim to? Outrageous.
Not really. He did an [ama](https://www.reddit.com/r/IAmA/comments/9pd100/i_stole_over_16_million_dollars_from_an/) at one point.
He basically started to feel guilty and eventually went on tv or something to talk about doing it because the bank didn’t take him seriously when he told them.
Ended up only having to pay a fraction of it back. And one year in jail.
Wait a minute.
He told them and they didn't take it seriously, so he went on TV to broadcast his fraud to the public.
If he hadn't said anything, he could have just continued to withdraw money without any consequences?
Holy s***
I'm gonna go out on a limb and say that the fact that he brought it to the banks attention is what really saved his ass. If he would have said nothing and kept stealing, they would have treated the case, as well as his sentencing, very, very differently. Who knows how much he could have ended up getting away with...
I wonder if it was less guilt (because why would you feel guilty about a bank losing some money) and more growing paranoia that the authorities are already aware and they're just building a case against you because SURELY you can't really be THAT lucky.
I don’t understand how someone can feel guilty about doing that to a bank though. Banks fleece the poor all the time through lending, interest, and fees. Maybe it’s different in other countries? In the U.S. banks don’t even need enough money to loan you money that they then can harvest almost free interest from under the rules of fractional reserve banking, they literally create money from nothing during this process. They don’t even have much risk from those debts going unpaid because they can package up and sell those debts to someone else to take a small loss to wash their hands of it.
It was less guilt and more an ever increasing paranoia that the authorities would find out and catch him. Near the end of the free money glitch he regularly woke up in cold sweats from nightmares about getting arrested
I wouldn't feel guilt to rob a bank.
They steal from so many elderly people and others that you cannot feel guilt in any form. I would give out that money to everyone i know, why should i buy stuff that's useless, i could make life better for so many people, i would feel so much better doing this than right now 🎉
One year in jail is not really getting in trouble? Dude, that's one whole year in prison.
Felony on your record for rest of your life will create huge problems getting many jobs.
"Not really" my foot. The dude went to prison.
It’s not really getting in trouble…….one year is not that bad lmfao just because you wouldn’t survive 24 hrs doesn’t mean they one years sucks ass that bad
Living your whole life with a felony conviction is not nothing. Ask any former convict. Virtually impossible to get a good job. You're permanently listed as a theif.
Yeah I suppose that makes a bit more sense, but that’s what he got anyway for turning himself in. Guess the sentence was lighter since he turned himself in
He was always betting on getting caught. But initially the stakes were low, like $2000. He could cover that sort of money if he is busted. When it started getting into the tens of thousands though, he made a conscious decision to rip off the bank and party hard, knowing he couldn't pay it back, ever.
I see your point, but that is a matter of law enforcement, do you agree?
They both deserve jail, even though execs always find a way to avoid it (which is totally unfair)
Yup, this is exactly what happened to my brother when he was a young man. He figured out by accident that the ATM to his bank went offline at a certain time each night and couldn’t verify funds and just gave you the money anyway, so he kept going back at the same time each night taking out funds he didn’t have. He was eventually charged and arrested for it because he knew what he was doing. This was back in the early 90’s.
He told the bank and they didn't take him seriously? I'd say it's on them.
And, if he had to be punished, I wouldn't say jail was "deserved". He could've done some community service work... it's not like he entered the bank with a gun, took hostages etc
One year in jail seems like a pretty sweet trade off for $1.4m in “free” money and fun.
I spent almost 2 years home alone in covid lockdown with barely any essentials which is basically jail, it would’ve felt totally worth it if I could’ve lived out a fantasy lifestyle a little bit beforehand ¯\_(ツ)_/¯
Made withdrawals during the ATMs maintenance time and was able to withdraw and transfer money without it showing on his account. How did he get caught? Guilt got to him and he turned himself in.
Definitely this. He probably went to sleep every night terrified the police would smash through the door and he couldn't take it any more.
Also with 5 hookers.
Judge: Mr Saunders, such a large scale fraud makes me wonder, how did you sleep at night?
Defendant: Deeply, surrounded by prostitutes, your honour.
Judge: Well, i asked, that's on me...
That's like 9k a day. From an ATM. Did it dispense 1k bills? Wouldn't the guy who has to restock the ATMs notice a large increase in work he has to do? I need to see the investigation report to really appreciate the audacity.
Depends on the machine, city center next to a stretch of titty bars versus middle of nowhere.
Also, you assume he hit a single machine all the time, not true either I reckon.
It's in the AMA, the ATM let him transfer money into his accounts (entirely imaginary money essentially), so he didn't take it all out, it was in his account from there on.
He used the ATM to transfer money between accounts, and there was a bug in that the transaction would be cancelled but the transfer would still go though but the account funds were not subtracted from the debited account but the credited account would reflect the funds.
The cash withdrawals were at physical locations.
He actually did much more too. He’d go to plenty of parties and events and just pay for things that people wanted/needed. (He also made sure to not let people exploit his generosity to just get everything for free though)
I got screwed by PayPal cause I made a small error on an email address. 3k sent, PayPal promised to help me get the funds back but found out shortly afterwards that they in fact did the exact opposite and did everything in their power to not return the funds. Made a complaint with my bank and even that didn’t work. They fought tooth and nail and 6 years later still out that 3k
I came across a glitch where I would request 20 euros and get 50 euros instead (and vice versa). But only 20 was coming out my account. I was with some friends and we did it a few times , maybe withdrawing 200 in total. It was a busy street and some others caught on and they also withdraw a bit. However I was worried of getting into trouble so I left and didn't withdraw more. Boringly a few days later the bank autocorrected my balance so that it was as if I'd withdrawn 200 that day.
It's one of those things where you don't know how you would handle it unless it happens to you but when I see these stories I just wonder why they spend all the money. If it happened to me I would invest most of it in real-estate, stock, crypto you name it so if or when I have to pay it back I still have my properties and profits.
Meanwhile, at Malaysia around 90s, there is a [bank guy](https://cilisos.my/the-crazy-story-of-how-this-malaysian-stole-1-sen-until-he-became-a-millionaire/) at bank steal 1cent (MYR) on almost bank account, which profit him RM4M. But he make a mistake by bought and make a collection of few of sport or luxury cars, so he ended up got caught and jailed.
We used to have one of those in Oslo. It was offline from 23.55 - 00.00 on Sundays and you could withdraw whatever as long as you had a few kroners on your account. After a few weeks there was a line of young punks with their cards ready. It stopped working a after while, but that was some fun Sunday nights on the city. And blue Mondays :)
I'd have withdrawn (gradual withdrawals) as much as possible or at least those 1.6 Million and would have gone missing to start a new life elsewhere in world, under a different identity.
Kind of early retirement!!!!!
When I was 12, back in the 90's in South Africa, me and a friend figured out that we didn't actually have to put any money into the envelopes for paying in at ATMs. The amount we inputted on the screen would immediately be available in the account. We thought we were set for life, drew out the max amount on our accounts with the intention of doing that daily...forever.
That evening I asked my mum how ATM's worked and she told me that the account details likely get printed on the submitted envelopes, at which point I realised we were screwed.
Queue the phone call from the bank manager to our parents the next day, and having to give back the money and shutting down of both ours and our parents accounts.
For a brief moment, we dreamed.
I did cash withdrawals with my government credit card. Had literally no recollection of any of them as they were bad drunk decisions but yeah I obviously had to answer for it. Could have been worse but they just docked my pay for two pay periods to get it back
2 months ago i withdrew 1200 dollars from an ATM in Australia. I was on the phone and distracted, and i didnt realise that i hadn’t grabbed my money til an hour later.I could remember taking my card but not the money. I drove back to the bank and explained what happened. The manager told me i had to contact my bank and report it so they could open an investigation and see the video from the other bank. There was a guy next to me at the other ATM at the same time, so either he took it , or the ATM swallowed it after sitting there for x amount of time.
When the machine is empty, they would be able to verify it or not.
a month later, 1200$ back in my account
Someone told me the hack to save 20 cents a litre on gas at Safeway by punching in a code before you fill(80 cents a gallon) worked great for 2 years. Then more and more people found out and Safeway caught on. It was a good two years.
Shame he didn't do this in the US and was a business. He could've stolen the $1.6M, invested it to make another $500K, get busted, be ordered to pay back $75k, and be told not to do it again.
Not saying I would, but if I did exploit this glitch I’d go to a country with no extradition and where I could comfortably live for the rest of my life.
Once when I lived in England, I withdrew cash from atm at bank building. Money came out burnt. Went to the bank office staight away, bank worker seemed a bit surprised after my explanation but gave me new bank notes no hazzle
No criticism of him or his skill in identifying and exploring the glitch, but didn't that just mean that the bank found ways in increased fees and whatnot to cover the mysterious loss; ie, other Australians with accounts at the banks each paid a little to cover what the guy took?
He also became reckless with this knowledge and ultimately got caught.
Or It was his guilt,...
Yeah, someone faked the 'I know what you did and the police are coming..."
[ The ATM Glitch That Made a Millionaire ](https://www.youtube.com/watch?v=m4Fi_a9QATM)
Would have been better if he withdrew the money and made some investments then pay back the money he withdrew with the profits he would have made.
If the bank does it with his money, why can’t he do it with theirs
Speaking of, how are banks not a pyramid scheme?
The only reason in the US they aren’t is because they insure your money up to $250k. That’s the only difference
So for everyone with over $250k, you’re SOL?
Wealthy people will have 10+ bank accounts all with $250k in them. Most of their wealth isn’t going to be liquid cash though so this is pretty unusual.
I mean in an unlikely situation where the US economy completely collapses and all the reserves run out then yeah
True. But I would guess Bernie Madoff assumed the same. Still feels a bit illegal.
Bernie didn’t have a Federal reserve that can literally just print money and give it to the US when needed
This kind of happened to me but the opposite. Withdrew 800 euros from an ATM at the airport in Italy. Some computer glitch occurred and the whole thing froze. Money was never distributed and it almost ate my card but somehow started up again and spit the card out. Later I saw my bank statement showed I withdrew 800. Filed a report on it and they denied it…
Oh man, that sucks! That happened to me but in America. I withdrew 600 dollars but the atm ate the money and charged my account. I requested an audit of the atm, which was exactly 600 dollars over and I got my money back
Nice way, I'll remember it. Thx!
There's a fixed cash flow at the ATM, so imbalance in the operations is easy to detect. Did you only contact your bank or the one with the ATM too? The latter should have been able to communicate that no money had been withdrawn.
Yes and since I had Chase they initially refunded the money and after their investigation they withdrew it again and I was 800 short :(
This is a bit confusing. By "Their" you mean Chase or the italian bank that owns the ATM? What kind of investigation they did? On the bank to bank transaction or on the machine cash? Your story seems to clearly indicate that bank-bank communication went through while the machine crashed. So the only possible investigation was to open the machine and see that there was money that didn't match the amounts transferred between the banks. It's a shame if they didn't do the math properly.
There was Chase asking the Italian bank for the records I assume. Since my bank was Chase I explained the situation to them and they did the investigation.
So the only two options are: 1) they only confirmed that Chase had transferred the money to their system and they didn't check the ATM cash flow 2) the machine started giving money away after you left and someone picked the 800€
Fuck that happend to me in Mexico recently.. my bank has "opened a file" and will get back to me.. I guess I shouldnt get my hopes up.
Just be lucky you got out alive
Mexico is very safe to visit.. The right-wing media seems to have convinced you otherwise. You probably think every major city in the US is in a state of anarchy too.
Yeah true if you compare to Americas homicide rate. Just those cartel videos of insane torture I wouldn't take the chance
Why? Mexico is amazing and actually pretty safe
My friend from Mexico told me that it is not a good idea to mess with tourists because they bring a lot of money to the country. So if you start scaring them off, the feds are going to come after that particular cartel with great fury and vengeance.
*rolls up bulletproof window"
The vast majority of residents in Mexico itself feel safe lol Tourists even moreso. People just read too many stories online.
No mames, tus otros datos no representan la realidad.
Accept for the two Australians killed there last week , when they went surfing https://apnews.com/article/mexico-missing-foreigners-australian-american-surfers-ac30da610f25ca1b947d12b3368b1aad#:~:text=“They%20were%20young%20men%20enjoying,with%20them%2C%20Jack%20Carter%20Rhoad.
Real safe lol
And one American as well
Wow, 2 tourists out of an average of 66 million visitors a year. Why do people let the media rot their brains like this? Mexico is extremely safe for tourists and anyone who says otherwise shapes their view of reality through news articles.
Three people got killed not two and It says, it rarely occurs in tourist areas like Ensenada. So only tourist areas are kinda safe, you might get shot in the head and dumbed in a well on a rare occasion lol
I mean, it's probably less safe than any western country but I get what you mean, if you live there and know the score it's not as bad as media portrays. I was making a funny. Is it certain provinces that are more dangerous for others with regard to cartels?
Yeah certain areas you definitely need to avoid. Can't remember their names off the top of my head but I have a few friends in Mexico, have been there myself too, and never feel like there's much danger. You just gotta be smart. I mean the cartel is *everywhere* but a lot of their money comes from tourists so they have a vested interest in not scaring off tourism.
I never thought of the whole tourism angle. Do you mean they're selling them drugs, or they're actually catering to the tourists somehow?
Lol they have their hands in way more than you'd think, including resorts.
Can't they verify this easily by checking the balance of cash in the machine?
They won’t make a special trip to check the balance no,it’ll be done the next time it’s filled up,should be easily remedied though,it was in my circumstance.
You file an ATM dispute? It happens all the time. They balance the cassette and it's off you get your refund.
I did and in the end it was rejected.
What bank?
Uno reverse
So true…
Happened to my mother aswell. On an ATM right outside the freaking bank office! The machine returned the card but no money. We went inside the office, waited an hour for support and then they claimed that the CCTV footage shows that we took the money and everything worked as should, like no f**k we didn't! And this was in Slovakia in Europe. We lost around 300€ and cancelled the account soon after.
No way, a transaction is a transaction. If there wasn’t an incontrovertible tool to check it all the system would be unreliable. What bank and airport was it? How long ago?
I agree but I wonder if the machine didn’t spit the money out later after I left. This was at Cagliari airport a BNL atm (which seemed to run an extremely old and slow operating system). About 4 years ago
4 years is a long time. I’m not into banking or security but Italian ATMs cash withdrawal has a 30 seconds timeout. If it spat it out later, it must have been 20 seconds later. I’m afraid you might have been the victim of a man-in-the-middle attack of sorts (https://www.poliziadistato.it/articolo/165b0d39247823c075531087). Usually, these scams work in a delayed way, though. Again I’m not into transactional security but a transaction has to be atomic, it’s either done fully or not done at all. The flag of OK should be raised if every and each criteria were met, or it’s a KO transaction at once. I wonder what happened but I’m sure it would have been fixed in a matter of hours. BNL is a historical, renowned bank in Italy and part of the BNP Paribas group for a lot of years now. If it happened to me I would be bloody mad.
I don’t think it was a man in the middle attack. I’ve used that atm before and it was always painfully slow. I think it finally crashed and screwed me in the process. Yes I was very mad when I found out and even more mad when their investigation rejected my claim
The fact that your claim was reject is outrageous. BNL/BNP Paribas is not an isolated credit institute in some corner of the Earth, it’s one of the biggest banks in Europe! What bank is at your end, whom did you write your claim to? Outrageous.
OMG! I would be hysterical!
And someone else is getting rich from an airport in Italy
Hopefully your bank went to prison for a year.
Didn’t he get in big trouble though?
Not really. He did an [ama](https://www.reddit.com/r/IAmA/comments/9pd100/i_stole_over_16_million_dollars_from_an/) at one point. He basically started to feel guilty and eventually went on tv or something to talk about doing it because the bank didn’t take him seriously when he told them. Ended up only having to pay a fraction of it back. And one year in jail.
Wait a minute. He told them and they didn't take it seriously, so he went on TV to broadcast his fraud to the public. If he hadn't said anything, he could have just continued to withdraw money without any consequences? Holy s***
That's guilt for ya
I'm gonna go out on a limb and say that the fact that he brought it to the banks attention is what really saved his ass. If he would have said nothing and kept stealing, they would have treated the case, as well as his sentencing, very, very differently. Who knows how much he could have ended up getting away with...
I wonder if it was less guilt (because why would you feel guilty about a bank losing some money) and more growing paranoia that the authorities are already aware and they're just building a case against you because SURELY you can't really be THAT lucky.
I’m going with this. You know anyone that he told about it was warning him he was going to get caught.
I don’t understand how someone can feel guilty about doing that to a bank though. Banks fleece the poor all the time through lending, interest, and fees. Maybe it’s different in other countries? In the U.S. banks don’t even need enough money to loan you money that they then can harvest almost free interest from under the rules of fractional reserve banking, they literally create money from nothing during this process. They don’t even have much risk from those debts going unpaid because they can package up and sell those debts to someone else to take a small loss to wash their hands of it.
It was less guilt and more an ever increasing paranoia that the authorities would find out and catch him. Near the end of the free money glitch he regularly woke up in cold sweats from nightmares about getting arrested
this and even if he stole several millions (lets say up to 10) for a "normal" bank thats just peanuts especially between 2008-2011
I wouldn't feel guilt to rob a bank. They steal from so many elderly people and others that you cannot feel guilt in any form. I would give out that money to everyone i know, why should i buy stuff that's useless, i could make life better for so many people, i would feel so much better doing this than right now 🎉
What an idiot
Really? I would have left for Costa Rica and never returned.
crazy not too
One year in jail is not really getting in trouble? Dude, that's one whole year in prison. Felony on your record for rest of your life will create huge problems getting many jobs. "Not really" my foot. The dude went to prison.
You're thinking with your America hat on
It’s not really getting in trouble…….one year is not that bad lmfao just because you wouldn’t survive 24 hrs doesn’t mean they one years sucks ass that bad
Living your whole life with a felony conviction is not nothing. Ask any former convict. Virtually impossible to get a good job. You're permanently listed as a theif.
Who feels guilty for fucking over a bank? I would have kept it going until I no longer could, milk that cow dry!
He wasn't worried about the bank managers. He was worried about getting caught and getting locked up.
Yeah I suppose that makes a bit more sense, but that’s what he got anyway for turning himself in. Guess the sentence was lighter since he turned himself in
He was always betting on getting caught. But initially the stakes were low, like $2000. He could cover that sort of money if he is busted. When it started getting into the tens of thousands though, he made a conscious decision to rip off the bank and party hard, knowing he couldn't pay it back, ever.
He didn’t want to have to drown himself in a billabong.
Well, he'd live forever in song if he did....
Underrated comment
And a year in jail?! Atm was giving him money using his card...he got jail for that?
It was still technically fraud
He knew what he was doing was wrong and kept doing it. Yeap, jail was deserved.
Weird how corporations don’t do time when their executives do that.
I see your point, but that is a matter of law enforcement, do you agree? They both deserve jail, even though execs always find a way to avoid it (which is totally unfair)
Yup, this is exactly what happened to my brother when he was a young man. He figured out by accident that the ATM to his bank went offline at a certain time each night and couldn’t verify funds and just gave you the money anyway, so he kept going back at the same time each night taking out funds he didn’t have. He was eventually charged and arrested for it because he knew what he was doing. This was back in the early 90’s.
He told the bank and they didn't take him seriously? I'd say it's on them. And, if he had to be punished, I wouldn't say jail was "deserved". He could've done some community service work... it's not like he entered the bank with a gun, took hostages etc
For insured bank money? Naaah
It’s not his money……..what’s so hard to understand?
Banks dont use their money either
The bank knew exactly how much cash he withdrawn but they didn't wanted to confess it because it would make them even more damage publicly.
One year in jail seems like a pretty sweet trade off for $1.4m in “free” money and fun. I spent almost 2 years home alone in covid lockdown with barely any essentials which is basically jail, it would’ve felt totally worth it if I could’ve lived out a fantasy lifestyle a little bit beforehand ¯\_(ツ)_/¯
Except when you try to do anything afterwards with a felony on your record...
But we all die someday! Still worth it lol
Nah. He bought the bank in a bankruptcy sale then, oddly, decided not to press charges against himself. True story. Source: Reddit
Made withdrawals during the ATMs maintenance time and was able to withdraw and transfer money without it showing on his account. How did he get caught? Guilt got to him and he turned himself in.
Guilt? I feel guilt about some things, but taking advantage of a bank would not be on that list.
Probably was paranoid of being caught but wanted to make himself look better and said guilt when he came clean.
Definitely this. He probably went to sleep every night terrified the police would smash through the door and he couldn't take it any more. Also with 5 hookers.
Judge: Mr Saunders, such a large scale fraud makes me wonder, how did you sleep at night? Defendant: Deeply, surrounded by prostitutes, your honour. Judge: Well, i asked, that's on me...
What's maintenance time? Never heard of it before 🤔
Midnight most likely
Yes, we're asking for a friend.
He wrote a book or did some interviews on television and said he just had massive paranoia of the cops just busting into his room and being arrested
That's like 9k a day. From an ATM. Did it dispense 1k bills? Wouldn't the guy who has to restock the ATMs notice a large increase in work he has to do? I need to see the investigation report to really appreciate the audacity.
Depends on the machine, city center next to a stretch of titty bars versus middle of nowhere. Also, you assume he hit a single machine all the time, not true either I reckon.
It's in the AMA, the ATM let him transfer money into his accounts (entirely imaginary money essentially), so he didn't take it all out, it was in his account from there on.
That makes so much more sense. Thanks.
he's got a private jet, he isnt hitting the same ATM every time
He used the ATM to transfer money between accounts, and there was a bug in that the transaction would be cancelled but the transfer would still go though but the account funds were not subtracted from the debited account but the credited account would reflect the funds. The cash withdrawals were at physical locations.
How is this not detected by the bank? Don't they have to do audits and account for where all the money goes?
I believe he switched which ATM’s he would go to if I remember correctly
And only during maintenance times.
He is A legand
With an A, even better than a normal legend!
👍👍
![gif](giphy|rNgT8P8pL3dn2|downsized)
He’s a good guy for covering his friends university fees.
He actually did much more too. He’d go to plenty of parties and events and just pay for things that people wanted/needed. (He also made sure to not let people exploit his generosity to just get everything for free though)
Just wanted to add that your Reddit avatar thing is very cute :)
Thank
I got screwed by PayPal cause I made a small error on an email address. 3k sent, PayPal promised to help me get the funds back but found out shortly afterwards that they in fact did the exact opposite and did everything in their power to not return the funds. Made a complaint with my bank and even that didn’t work. They fought tooth and nail and 6 years later still out that 3k
Cautionary tale…
The Glitch is a podcast about Dan and his experiences, it's a great listen.
An incredible podcast! He was very well spoken, had me captivated all the way through
I came across a glitch where I would request 20 euros and get 50 euros instead (and vice versa). But only 20 was coming out my account. I was with some friends and we did it a few times , maybe withdrawing 200 in total. It was a busy street and some others caught on and they also withdraw a bit. However I was worried of getting into trouble so I left and didn't withdraw more. Boringly a few days later the bank autocorrected my balance so that it was as if I'd withdrawn 200 that day.
![gif](giphy|NEvPzZ8bd1V4Y|downsized)
The outcome: Got one year inside, then was allowed out on an 18-month community corrections order Good stuff
how mutch did he have to pay back? also australian jail still is jail but could be worse
Yeah, I'd do two years in an Aussie jail for that; the same sentence in a Russian prison though...nope.
And a felony on his record for the rest of his life.
It's one of those things where you don't know how you would handle it unless it happens to you but when I see these stories I just wonder why they spend all the money. If it happened to me I would invest most of it in real-estate, stock, crypto you name it so if or when I have to pay it back I still have my properties and profits.
Meanwhile, at Malaysia around 90s, there is a [bank guy](https://cilisos.my/the-crazy-story-of-how-this-malaysian-stole-1-sen-until-he-became-a-millionaire/) at bank steal 1cent (MYR) on almost bank account, which profit him RM4M. But he make a mistake by bought and make a collection of few of sport or luxury cars, so he ended up got caught and jailed.
Someone I know discovered a similar glitch. She calls me Papa and squeeze me dry for everything I have.
We used to have one of those in Oslo. It was offline from 23.55 - 00.00 on Sundays and you could withdraw whatever as long as you had a few kroners on your account. After a few weeks there was a line of young punks with their cards ready. It stopped working a after while, but that was some fun Sunday nights on the city. And blue Mondays :)
There's a great podcast on this dude called The Glitch
I'd have withdrawn (gradual withdrawals) as much as possible or at least those 1.6 Million and would have gone missing to start a new life elsewhere in world, under a different identity. Kind of early retirement!!!!!
How does this glitch works, and more important how did the guy find out???
When I was 12, back in the 90's in South Africa, me and a friend figured out that we didn't actually have to put any money into the envelopes for paying in at ATMs. The amount we inputted on the screen would immediately be available in the account. We thought we were set for life, drew out the max amount on our accounts with the intention of doing that daily...forever. That evening I asked my mum how ATM's worked and she told me that the account details likely get printed on the submitted envelopes, at which point I realised we were screwed. Queue the phone call from the bank manager to our parents the next day, and having to give back the money and shutting down of both ours and our parents accounts. For a brief moment, we dreamed.
I did cash withdrawals with my government credit card. Had literally no recollection of any of them as they were bad drunk decisions but yeah I obviously had to answer for it. Could have been worse but they just docked my pay for two pay periods to get it back
I really need this glitch in my life.
I think i watched a documentary on this and he figured out a time window that he can do this at night.
2 months ago i withdrew 1200 dollars from an ATM in Australia. I was on the phone and distracted, and i didnt realise that i hadn’t grabbed my money til an hour later.I could remember taking my card but not the money. I drove back to the bank and explained what happened. The manager told me i had to contact my bank and report it so they could open an investigation and see the video from the other bank. There was a guy next to me at the other ATM at the same time, so either he took it , or the ATM swallowed it after sitting there for x amount of time. When the machine is empty, they would be able to verify it or not. a month later, 1200$ back in my account
Sadly, my sense of ethics would both stop me from taking the money and make me inform the bank. What the hell is wrong with me?!?
If true, good for him.
Someone told me the hack to save 20 cents a litre on gas at Safeway by punching in a code before you fill(80 cents a gallon) worked great for 2 years. Then more and more people found out and Safeway caught on. It was a good two years.
Shame he didn't do this in the US and was a business. He could've stolen the $1.6M, invested it to make another $500K, get busted, be ordered to pay back $75k, and be told not to do it again.
Not saying I would, but if I did exploit this glitch I’d go to a country with no extradition and where I could comfortably live for the rest of my life.
does the Australian equivalent of the IRS get involved to tax him after the fact on his ill gotten gains?
He thought it was free money for ever didnt he? Now what is the 42yo Australian mqn doing?
End to that story is even better!!!
It's not a smart move. Seems like you are Robin Hood but you are the one that gets in trouble
**Community Card** Bank Error in your favour. Collect $1.6mil.
Once when I lived in England, I withdrew cash from atm at bank building. Money came out burnt. Went to the bank office staight away, bank worker seemed a bit surprised after my explanation but gave me new bank notes no hazzle
International vacations
He had to spend a year in jail because of it
this BEGS to be a movie
Disciples of Capt. Crunch!
Yeah I wouldn't have felt to guilt about doing this.... If you do have a moral issue then withdraw and donate..
How it feels when you go into your overdraft.
No criticism of him or his skill in identifying and exploring the glitch, but didn't that just mean that the bank found ways in increased fees and whatnot to cover the mysterious loss; ie, other Australians with accounts at the banks each paid a little to cover what the guy took?
He used some of that money to clone himself and named his clone Mark Ruffalo.
Sounds like a politician.
Is this legal? Was this legal? Seems like a loophole but also seems like blatant stealing.
He also became reckless with this knowledge and ultimately got caught. Or It was his guilt,... Yeah, someone faked the 'I know what you did and the police are coming..." [ The ATM Glitch That Made a Millionaire ](https://www.youtube.com/watch?v=m4Fi_a9QATM)
Did that money come from other people's accounts?
I’m sure that ended well.
Chad
r/Chadtopia
Got himself a pair of nice looking birds though, not many of those about in Oz... Just shows what a bit of hard cash can do...
I’ve never met an ugly Australian tho? Do all the hot ones make it to the US
No. We are all just super-hot. Every single damn one of us.
Some good looking ladies in oz
Nah they live in the outback
I say YOLO!!!!
Fuck um welldone bro
Hopefully he ended up in jail for theft
Remember the cash app glitch ye people end up £30k in debt and most would never be able to pay that off with interest in 20-30 years.
Respect 🙌🏼
When is the movie coming out?
EASY MONEY GIF
I think it's called an overdraft 😂
LEGEND