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Banks losing millions to fraudsters
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mawinder
#11 Posted : Thursday, December 06, 2012 9:58:55 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
InnovateGuy wrote:
Banks rarely expose this kind of fraud.

Heard that years ago, Equity lost huge sums to some guy(Chief IT admin) who was in charge of their servers. The guy had tweaked their software such that 50 cents would be wired to his account for every transaction. Guy made enough dough, did not renew his contract, sought UK citizenship, then went AWOL.

I could be wrong.

the guy must be a wazuan.will hunt for him and expose him.
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InnovateGuy
#12 Posted : Thursday, December 06, 2012 10:09:45 PM
Rank: Veteran

Joined: 11/15/2012
Posts: 1,110
mawinder wrote:

the guy must be a wazuan.will hunt for him and expose him.


Laughing out loudly Laughing out loudly Laughing out loudly

Peel some more.
Live Full Die Empty - Les Brown.
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essyk
#13 Posted : Thursday, December 06, 2012 10:19:24 PM
Rank: Elder

Joined: 11/15/2011
Posts: 4,518
InnovateGuy wrote:
mawinder wrote:

the guy must be a wazuan.will hunt for him and expose him.


Laughing out loudly Laughing out loudly Laughing out loudly

Peel some more.


Laughing out loudly Laughing out loudly Silenced Silenced
"The true measure of a man is how he treats someone who can do him absolutely no good.
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Impunity
#14 Posted : Thursday, December 06, 2012 10:32:53 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,334
Location: Masada
InnovateGuy wrote:
mawinder wrote:

the guy must be a wazuan.will hunt for him and expose him.


Laughing out loudly Laughing out loudly Laughing out loudly

Peel some more.


"what do wazuans do for a living thread"
Applause
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Ngong
#15 Posted : Thursday, December 06, 2012 10:50:11 PM
Rank: Veteran

Joined: 11/17/2012
Posts: 1,461
Location: Ngong Forest
InnovateGuy wrote:
Banks rarely expose this kind of fraud.

Heard that years ago, Equity lost huge sums to some guy(Chief IT admin) who was in charge of their servers. The guy had tweaked their software such that 50 cents would be wired to his account for every transaction. Guy made enough dough, did not renew his contract, sought UK citizenship, then went AWOL.

I could be wrong.


Is this not a script from a movie where a group of young guys who are retrenched from an accounts firm find themselves with a lot of cash from cents transfer to one of their secret account? luckily the firm burns down to ashes before they confess!
Why didn't Equity burn?
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ChessMaster
#16 Posted : Friday, December 07, 2012 3:56:10 AM
Rank: Elder

Joined: 2/23/2009
Posts: 1,626
The repeated theme for cents came from the 1995 movie hacker.
Uncertainty is certain.Let go
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InnovateGuy
#17 Posted : Friday, December 07, 2012 10:04:07 AM
Rank: Veteran

Joined: 11/15/2012
Posts: 1,110
Ngong wrote:


Is this not a script from a movie where a group of young guys who are retrenched from an accounts firm find themselves with a lot of cash from cents transfer to one of their secret account? luckily the firm burns down to ashes before they confess!
Why didn't Equity burn?


True story. Refer to post # 9.

Somehow, the story was classified.
Live Full Die Empty - Les Brown.
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bwenyenye
#18 Posted : Friday, December 07, 2012 1:26:50 PM
Rank: Elder

Joined: 5/24/2007
Posts: 1,805
keraka wrote:
That is what just leaks to the media.The figures if you are told are mind boggling and infact can cause a run on banks hence collapse.Ask your self do you wonder which business some pple do to enable them put up multiple apartments without taking loans.You read me.


Boss... Banks take insurance. It is the insurance companies that eventually feel the pinch.
I Think Therefore I Am
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nakujua
#19 Posted : Friday, December 07, 2012 1:59:06 PM
Rank: Elder

Joined: 12/17/2009
Posts: 3,583
Location: Kenya
bwenyenye wrote:
keraka wrote:
That is what just leaks to the media.The figures if you are told are mind boggling and infact can cause a run on banks hence collapse.Ask your self do you wonder which business some pple do to enable them put up multiple apartments without taking loans.You read me.


Boss... Banks take insurance. It is the insurance companies that eventually feel the pinch.


don't you think if the banks keep the crimes under wraps insurance companies don't have to pay, if the bank does not report it, then it never happened.
for insurance company to come in the police have to be involved
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nakujua
#20 Posted : Friday, December 07, 2012 2:02:31 PM
Rank: Elder

Joined: 12/17/2009
Posts: 3,583
Location: Kenya
InnovateGuy wrote:
Ngong wrote:


Is this not a script from a movie where a group of young guys who are retrenched from an accounts firm find themselves with a lot of cash from cents transfer to one of their secret account? luckily the firm burns down to ashes before they confess!
Why didn't Equity burn?


True story. Refer to post # 9.

Somehow, the story was classified.


@ngong equity si kiosk, its a one of the big bank players in the country
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