14 DAY TRIAL // Automated Teller Machines (ATMs) are known to have glitches that sometimes allow bank customers to withdraw amounts of money that well exceed their account’s balance. Such a bug was identified by over 30 individuals who abused it for a few months.
According to The West Australian, 19 individuals have been charged by the police with 197 counts of stealing.
The thieves noticed that every time Commonwealth Bank performed software maintenance on its ATMs, the machines would hand over money without restrictions.
The 19 suspects didn’t keep the information for themselves and started boasting about their findings on social media sites and via phone calls.
While the software error allowed them to withdraw more money than they had, all the transactions were recorded. The amount of $217,000 (175,000 EUR) was fraudulently taken between December 2010 and March 2011.
The total amount the thieves attempted to steal mounts up to $7 million (5.6 million EUR).