Chinese bank’s software chief jailed after finding way to withdraw US$1m in ‘free’ cash from ATMs

File this one under "Office Space 2". A senior programmer at Huaxia Bank in China found a loophole in the system which detected cash withdrawals made around midnight each day were not being recorded. He discovered the loophole in 2016, and with a few scripts began withdrawing small amounts every day at midnight to 'test the vulnerability' and see if alerts were triggered. Through the course of a year he withdrew the equivalent of almost $1m USD. Upon being 'caught' he returned it all which apparently satisfied the bank (despite he having used some of it to invest in the stock market). However, once regulators found out they weren't so kind. Milton is now is heading for a 10 year jail term.


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