Right Out of a Movie

Ars Technica: ATM heist clears $1 million exploiting Citigroup e-payment flaw:

“In order to obtain the case, the conspirators exploited a loophole in Citi’s account security protocols, which caused Citi’s account reconciliation systems to treat identical, near-simultaneous withdrawals as duplicates of a single withdrawal from an individual Citi Checking account,” prosecutors alleged in the indictment. “In exploiting this loophole, the conspirators withdrew identical sums of money in succession from a single Citi checking account all within a specific time window. This allowed the conspirators to fraudulently withdraw several times the amount of money deposited into each account.”

Sounds like it’s right out of a movie.

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