Double your monies until your reach a million



  • (link is in Finnish, sorry about that)

    Doubling your monies

    A Finnish man is suspected of defrauding 1,000,000 euros from an internet gambling site.

    In 2006, he was transferring 17 euros between his accounts on the site. Lo and behold, the money appeared on the destination account, and yet remained on the original account. WWFSMD?

    He transfers monies around, until he reaches 10,000 euros of free money. Tries to move it to his bank account, no good. Seems banks check for transfers of 10,000 euros and up. Transfer is invalidated, gambling site notices error, removes extra monies from account. They don't fix the bug, though. Or do much anything else, either.

    Well, failing just means you weren't clever enough.

    Man starts moving money around his gambling accounts again. "How much should I go for?", maybe thinking. How about a million euros?

    So, eventually there's a million euros on his account at the gambling site. Banks check for transfers of 10,000 euros and over, so man only moves 9,000 euros at a time. No problem. No one notices.

    Time passes, man keeps taking out 9,000 euros at a time. Has taken out 500,000 euros already.

    Come last January, man is in a hurry. Types 19,000 euros by accident. Bank's automated system kicks in. I guess someone at the bank finally wakes up, finds out what's been happening, contacts gambling site, police arrest man.

    IMHO, there are three WTFs here:

    1. The transfer bug that would deposit money in one account without removing it from another.

    2. The gambling site apparently had no systems to verify transfers from an account on the site to an external bank account, no matter what the amount is.

    3. Even after getting caught the first time, no accounts were removed, no one was banned, no checks were added.



  • I actually work with an online poker site(which of course I definately cannot name), and depending on client configuration, if a certain configuration is set and an affiliate user logs in(usually a web cafe that pays out and takes in cash for customers) and then logs out the next customer that logs in on the same computer has full access to the that affilates account.



  • may I ask wich was the site and if the bug is still up there?

    no, I don't want to get rich by clicking, why? 



  • @ZippoLag said:

    may I ask wich was the site and if the bug is still up there?

    no, I don't want to get rich by clicking, why? 

     

    PAF, which is located on the beautiful islands of Åland.



  • @baeksu said:

    1. The transfer bug that would deposit money in one account without removing it from another.
     

    Probably never of transactions, or bothered to implement them.

    And another WTF:

    4.  Accounting procedures so sloppy they can't/don't notice 500,000 euros missing. Heck, even at Initech they eventually noticed the credit union's accounts had a gaping hole in them.



  • I wonder how many people have just transfered a 1000 euros or so and then stopped cause they didn't want to trigger anything. How do you explain a sudden extra 500.000 to the taxes?



  • @Daid said:

    I wonder how many people have just transfered a 1000 euros or so and then stopped cause they didn't want to trigger anything. How do you explain a sudden extra 500.000 to the taxes?

    You'd think they would want to find out, wouldn't you? At least publicly they did not talk about there being other cases.

    Maybe the bug was confined to a single player account?

    As for the extra monies, the guy is unemployed, and apparently spent all the money at other gambling sites, stocks and just buying stuff (probably alcohol). So he's not going to be paying back much anything.

    The prosecutors are demanding a 3-year jail sentence. His defense is arguing that because the security systems sucked, he shouldn't go to jail, but be on probation instead.



  •  @baeksu said:

    The prosecutors are demanding a 3-year jail sentence. His defense is arguing that because the security systems sucked, he shouldn't go to jail, but be on probation instead.

     

    I think that's TRWTF! Why should he go to jail for using a buggy feature of the site?? It's not the security that sucked, he didn't even attack it.

    Say your bank puts 1 million euros on your account and you don't report it. Do you go to jail for their fuck-up?



  • @topspin said:

    Say your bank puts 1 million euros on your account and you don't report it. Do you go to jail for their fuck-up?
     

    I think so ... I believe you are obliged to return any money that was mistakenly transfered to your account (at least in Europe)   ...



  • @Daid said:

    How do you explain a sudden extra 500.000 to the taxes?
     

    As far as the government is concerned, you won it all at the gambling site.



  • @vt_mruhlin said:

    @Daid said:

    How do you explain a sudden extra 500.000 to the taxes?
     

    As far as the government is concerned, you won it all at the gambling site.

    Online gambling:  the new laundering real gambling



  • @Nelle said:

    I think so ... I believe you are obliged to return any money that was mistakenly transfered to your account (at least in Europe)

    Same here in the States. They are also free to steal your money as long as they put it back.



    Protip: Stay away from Wachovia.



  • @Hitsuji said:

    I actually work with an online poker site(which of course I definately cannot name),
     

    Maybe so, but your post's sidebar says you live in Cork, Ireland, so that narrows it down a bit...

     



  • @baeksu said:

    IMHO, there are three WTFs here:

    1. The transfer bug that would deposit money in one account without removing it from another.

    2. The gambling site apparently had no systems to verify transfers from an account on the site to an external bank account, no matter what the amount is.

    3. Even after getting caught the first time, no accounts were removed, no one was banned, no checks were added.

     

    4. Being arrested for "defrauding" a company while properly using their COMPUTER PROGRAM.  



  • @belgariontheking said:

    Online gambling:  the new laundering real gambling
     

    It was found recently here in Canada that criminal gangs have "discovered" that casinos are ideal places to launder money. Apparently no one notices (or wats to notice) people sitting at slot machines feeding in $9980 in $20s and then cashing out ($10k being the "must be reported to the feds" limit). Take the cashout slip to the till, they cut you a nice fat cheque, and you're outta there with nice clean money.

    Only took the cops and media about 10 years to catch on to this. 



  • @MarcB said:

    @belgariontheking said:

    Online gambling:  the new laundering real gambling
     

    It was found recently here in Canada that criminal gangs have "discovered" that casinos are ideal places to launder money.

     

    What do the non-criminal gangs do? 



  • @PeriSoft said:

    What do the non-criminal gangs do? 
     

    They have choreographed fight scenes to mediocre music?



  • @MasterPlanSoftware said:

    @PeriSoft said:

    What do the non-criminal gangs do? 
     

    They have choreographed fight scenes to mediocre music?



    Are you stepping to Leonard Bernstein? Oh no you di'n't!



  • @PeriSoft said:

    Are you stepping to Leonard Bernstein? Oh no you di'n't!
     

    Bring it on, girlfriend.



  • @PeriSoft said:

    What do the non-criminal gangs do? 
     

    They hold a quilting bee, of course.  



  • In the end, the gambling site  is going to be out a large sum of money, and the fraudster will go to jail (if not for exploiting the site flaw, then definitely for trying to cover up his tracks and circumvent banking regulations by smurfing his transfers into several smaller transactions).

     Stupidity is punished all around.

     



  • @MasterPlanSoftware said:

    They have choreographed fight scenes to mediocre music?

    Such a shame - this would have been be a genuinely funny comment, but then you had to spoil it with the 'mediocre' . Trust me sonny - WSS's got some of the hardest but most fulfilling and wonderful dots I've ever played...



  • Final update on this story. The lower courts handed out their verdict today: 2 years jail time.

    Though he won't spend that much time in jail (this being in a Nordic country, after all), 2 years is a pretty harsh sentence, more than you would get for attempted manslaughter or molesting a child (!).

    He will have to pay 500,000 Euros back to the gambling company. He managed to spend 250,000 Euros before being caught, the remaining 250,000 is frozen on his bank account.

    Apparently, this guy also told about the bug to his friend (which indicates this was a system-wide bug), who managed to take out 20,000 Euros before the whole scheme was unravelled. The friend got 6 months probation.



  • @baeksu said:

    Though he won't spend that much time in jail (this being in a Nordic country, after all), 2 years is a pretty harsh sentence, more than you would get for attempted manslaughter or molesting a child (!).

    Your jail cells are nicer than my apartment.  So why do you even bother with a criminal justice system?  Just set up a Ministry of Sexual Assault and pay the people to molest kids -- cut out the middleman.  It would fit with the whole socialism thing and nobody would have to have their feelings hurt by being sent to "jail".



  • @PeriSoft said:

    What do the non-criminal gangs do? 

    Build a stage in the barn, make some costumes, and put on a fabulous show! 



  • @dgvid said:

    @PeriSoft said:

    What do the non-criminal gangs do? 

    Build a stage in the barn, make some costumes, and put on a fabulous show! 

    Wow.. way to steal MPS's joke, add 200% more gay and respost it 2 weeks later.  Win. 



  • @morbiuswilters said:

    Wow.. way to steal MPS's joke, add 200% more gay and respost it 2 weeks later.  Win. 

     

    Yeah, well said. I'm so tired today I didn't even look at the date or the other replies. Now some people would know not to click the Reply button in that situation, but me...oh no. 



  • @dgvid said:

    @morbiuswilters said:

    Wow.. way to steal MPS's joke, add 200% more gay and respost it 2 weeks later.  Win. 

     

    Yeah, well said. I'm so tired today I didn't even look at the date or the other replies. Now some people would know not to click the Reply button in that situation, but me...oh no. 

    I find your honest refreshing... and mildly erotic. Is that wrong?



  • @MarcB said:

    Heck, even at Initech they eventually noticed the credit union's accounts had a gaping hole in them.

    Somehow I think you didn't watch the same movie I did.


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