{"id":77775,"date":"2021-01-08T05:55:54","date_gmt":"2021-01-08T10:55:54","guid":{"rendered":"https:\/\/awesomejelly.com\/?p=77775"},"modified":"2021-01-08T05:55:54","modified_gmt":"2021-01-08T10:55:54","slug":"atm-loophole-allows-man-to-steal-over-500000-from-bank-t2","status":"publish","type":"post","link":"https:\/\/awesomejelly.com\/atm-loophole-allows-man-to-steal-over-500000-from-bank-t2\/","title":{"rendered":"ATM Loophole Allows Man To Steal Over $500,000 From Bank"},"content":{"rendered":"
\"\"

Finance Magnates<\/p><\/div>\n

Dan Saunders was a lonely bartender with $3 to his name. He was penny pinching every single day of his life because he had to. When he really needed the extra cash, he would use his credit card. That was his life \u2013 he couldn\u2019t afford to splurge. Life was expensive and he had no choice but to watch what he spent on. Then in February 2011, he decided to let loose one night and have a drink or two with his friends.<\/h6>\n
This was when fate took a turn for the often hard-up 29-year old. He stumbled upon an ATM loophole that changed his life\u2026<\/strong><\/h6>\n

<\/p>\n

Running Out of Cash<\/h2>\n
\"\"

The Drunk Pirate<\/p><\/div>\n

Saunders was throwing back a few drinks with some of his buds at the Bulls Head Hotel in Wangaratta, North-Eastern Victoria. They were having fun, but as always, he didn\u2019t have enough cash on him. So, he decided to leave the bar for a moment to withdraw more cash from the National Australia Bank (NAB) ATM. Then, he realized that he only had $3 left, which meant that he didn\u2019t have enough to buy one more drink. What was he to do? He needed cash at this point, but that was something he didn\u2019t have at the moment. So, he resorted to another method.<\/h6>\n

<\/p>\n

Go to Credit<\/h2>\n
\"\"

ABC<\/p><\/div>\n

Without much left on his savings, Saunders decided to use his MasterCard. He would pay for it when he had money. So, he opted for cash transfer from his credit card to his personal account. But first, he decided to make a balance inquiry. Unfortunately, the screen only said, \u201cBalance unavailable at this time.\u201d Nonetheless, he tried harder. He had to look for other ways and his credit card was his only hope at that time.<\/h6>\n

<\/p>\n

Cash Transfer<\/h2>\n
\"\"

Cloudfront<\/p><\/div>\n

Even if the balance was still unavailable, Saunders tried to withdraw AU$200 from his credit card. Nothing happened. On the screen were the words \u201ctransaction cancelled\u201d and his card was immediately spat out from the slot. So, he thought nothing happened, but when he checked his savings account, he already had $203. Apparently, he supposed, it worked. He thought nothing of it afterwards. At that point, what mattered most was that he finally had spending money.<\/h6>\n

<\/p>\n

Enjoying the Night<\/h2>\n
\"\"

White Star<\/p><\/div>\n

Saunders decided to enjoy the night now that he had money in his pocket. The $200 he got was able to buy him several more rounds of drinks, and to him, that was more than good enough. On his way home, he decided to see if what he did previously would work once more. He was extremely curious, and as he thought, it worked. He was able to transfer another $200 from his MasterCard to his savings account once again. It was a miracle for him! This could actually be the very answer to his financial conundrum.<\/h6>\n

<\/p>\n

It\u2019s a Miracle<\/h2>\n
\"\"

Star991<\/p><\/div>\n

Saunders was amazed. He had a MasterCard credit card and a Visa debit card with him and each one had a $1,000 daily cash limit. He maxed out whatever he was allowed to and went home with $2,000. He had money with him for the first time in years and it felt good. More importantly, the bank wasn\u2019t able to trace it because it had gone through its nightly maintenance. This meant one thing \u2013 he wasn\u2019t going to get charged for it. This was it! He could only hope that no one would catch on his illegal activity.<\/h6>\n

<\/p>\n

Money On Him<\/h2>\n
\"\"

Wikipedia<\/p><\/div>\n

Saunders went home feeling good. He went to bed and when he woke up the next day, he thought he had dreamed the entire scenario. He checked his bulging wallet and realized that the money was actually still there. It had happened after all! Then, he went to the ATM to check if to check if the transaction had finally been credited to his MasterCard and Visa accounts. Nothing appeared. His savings account, on the other hand, was $1,997 in debit. This made perfect sense since he had $3 the day before.<\/h6>\n

<\/p>\n

A Good Man<\/h2>\n
\"\"

Uniforms Factory Dubai<\/p><\/div>\n

Men who steal often come from rough backgrounds. Saunders, however, was an amiable man who never had run-ins with the law. He was raised by a Catholic father who had done his best to instill good values. More importantly, he never owned a driver\u2019s license, which meant that he didn\u2019t even have a parking ticket to his name. He was a law-abiding citizen at that point in time, at least to the public. That is, until his integrity was tried and tested.<\/h6>\n

<\/p>\n

Morals Down the Drain<\/h2>\n
\"\"

Shaw Global News<\/p><\/div>\n

Even honest men stumble at times, and that\u2019s exactly what happened to Saunders. His moral values went from solid to non-existent. As they say, money talks. It changes people, and it changed Saunders too. He had fallen prey to temptation. The moment he got the $200 from the first transaction, he had already committed a crime. According to the law, this was called \u201ctheft by finding.\u201d He took possession of something without establishing if it belonged to someone else.<\/h6>\n

<\/p>\n

Reason Around It<\/h2>\n
\"\"

PCDN<\/p><\/div>\n

While deep down, Saunders knew what he did was wrong, he simply told himself that he had discovered a loophole. The ATM was offline from the bank\u2019s main system when he did the transaction. When this happened, the machine was in a \u201cstand alone\u201d mode. It wasn\u2019t his problem. The mistake was in the system. The customer wouldn\u2019t be able to access the balance but would be able to transfer money up to the daily limit. This was the bank\u2019s way of making it convenient for their customers, and when it was back online, it would put the debit against the customer\u2019s account.<\/h6>\n

<\/p>\n

Paying Debts<\/h2>\n
\"\"

Hemingway207<\/p><\/div>\n

Saunders\u2019 personal account was overdrawn by $1,997. He needed to pay it back. Unfortunately, he had already spent the $2,000 he got. So, he sought for a way to get it back. He knew that the pub he worked for was frequented by horse trainers. Hence, he often got hot tips during races. He bet whatever he had left on a horse. Unfortunately, lady luck wasn\u2019t on his side. He had lost everything. He was in a rut once again. Would he resort to his old method once more? The temptation certainly presented itself on a silver platter.<\/h6>\n

<\/p>\n

What To Do<\/h2>\n
\"\"

Star<\/p><\/div>\n

Working as a barman, Saunders only earned $700 on a weekly basis. He had other expenses to worry about and knew that it would take him months before he could repay the bank. So that very night, he returned to the NAB teller machine. He was able to transfer $2,000 from his credit card to his savings account. The trick worked and he was back in the black once more! At this point, it became clear that Saunders would resort to trickery just to get himself out of debt.<\/h6>\n

<\/p>\n

Tricking the System<\/h2>\n
\"\"

Waterford<\/p><\/div>\n

Saunders found a way around the system. Every night, he transferred just a little more than what he spent from his credit card to his savings account. He did this on a nightly basis, when the system was down. He was basically buying himself time, but he also knew that he couldn\u2019t go on with this without the bank catching up. It scared him, which was why he also kept betting on horse races. He was hoping that luck would finally be on his side one day.<\/h6>\n

<\/p>\n

Out of Luck<\/h2>\n
\"\"

Good Returns<\/p><\/div>\n

Unfortunately, the bets Saunders made were always unlucky. For him, he was the worst punter in all of Australia. It didn\u2019t matter because by then, his nightly trips to the ATM would wipe away any debt he had. Just a few keystrokes, and he was back on his feet and ready to spend once more. But after a few weeks, his fears became a reality. He stopped making the nightly transfers when the deficit was finally reflected on his savings account.<\/h6>\n

<\/p>\n

Pay Up<\/h2>\n
\"\"

Live Trading News<\/p><\/div>\n

Now, Saunders was wondering how he\u2019ll ever get to pay the debt. This time, he decided to clean his savings account. He then transferred $60,000 to his MasterCard. The process went through and his savings account was once more in credit for $40,000. However, because his personal bank record had been in the red, he couldn\u2019t withdraw cash. He thought that the bank finally caught up with what he had been doing. He was in deep trouble now, or so he thought.<\/h6>\n

<\/p>\n

One More Try<\/h2>\n
\"\"

Herald Scotland<\/p><\/div>\n

Saunders were feeling scared and guilty. This would mean jail time for him because what he was doing was clearly illegal. Nonetheless, he knew how it good it felt to finally have money to spend. The good news is that the police haven\u2019t come knocking. So, he tried his luck one more time that night. He went to the ATM and pressed transfer. He only had his MasterCard with him but opted for the transfer option on the machine. Voila! Magic happened once again.<\/h6>\n

<\/p>\n

Successful Transfer<\/h2>\n
\"\"

Stuff<\/p><\/div>\n

Saunders attempted to transfer $65,000 from his credit card. This time, the screen indicated that the transaction was cancelled. He thought he was finished, but when he came back the next day, The MasterCard was $3,000 in credit. The transfer had come through during the night. He got money from a card that didn\u2019t exist. This was perfect! The bank simply thought that he had money to transfer back and forth. He could now transfer funds to cover the funds spent to replenish and refresh his personal accounts each day.<\/h6>\n

<\/p>\n

Mysterious Money<\/h2>\n
\"\"

Telegraph UK<\/p><\/div>\n

Saunders didn\u2019t know how it worked, but somehow, his surreptitious method was successful. The secret was to simply keep both accounts in credit at all times by transferring money from a non-existent credit card that the bank couldn\u2019t even monitor. He just had to do this at night as the system does its daily system upgrade and maintenance. At this point, it was a perfect set up for him as long as he was careful with the amount of money he manipulated.<\/h6>\n

<\/p>\n

The Good Life<\/h2>\n
\"\"

Wendell Odom<\/p><\/div>\n

Within weeks, Saunders was living the good life. Fate had finally taken pity on him. He was spending money like he had a lot to spare and was betting big amounts in the TAB for horse races and dog fights. This had been easy for him, as the pub he worked in did this on a nightly basis. And because the people he worked for and with knew just how much he was earning, they started becoming suspicious. They knew that he wasn\u2019t raking in that much money.<\/h6>\n

<\/p>\n

Suspected Robber<\/h2>\n
\"\"

Grist<\/p><\/div>\n

Tabcorp (the agency responsible for these bets) had noticed that turnover had been at its peak. Saunders was immediately suspected for robbing the pub\u2019s cash register to place bets. However, the people discovered that no money was missing. In fact, every cent that the establishment had was accounted for. Still, people had become wary with the way he spent money. Hence, he was eventually fired from his job.<\/h6>\n

<\/p>\n

The Partner Becomes Suspicious<\/h2>\n
\"\"

Youtube<\/p><\/div>\n

While all these happened, Saunders\u2019 live-in partner of four years had also become suspicious. When it was proven that he wasn\u2019t stealing from the pub, some people assumed that he had then been dealing drugs. He had become an excessive gambler and no one could understand how this was possible. Saunders then started explaining what had happened, but she didn\u2019t want to risk getting into trouble herself. So, she ended things with him and walked away from the relationship. Her conscience just couldn\u2019t take it.<\/h6>\n

<\/p>\n

Losing Everything Else<\/h2>\n
\"\"

Daily Mail<\/p><\/div>\n

A month into tricking the back, Saunders has lost his job as well as his girlfriend. He knew then that what he was going was slowly catching up with him. So, he went home to his family and friends in Melbourne. He talked to his mates about what he needed to do. Some urged him to tell the cops immediately. Others, however, said that this was a gift and that he shouldn\u2019t question the blessings that the heavens has showered upon him.<\/h6>\n

<\/p>\n

Green Light<\/h2>\n
\"\"

Heli Experiences<\/p><\/div>\n

Saunders listened to those who supported his sketchy methods. The scam continued for him. He still gave it a go. For him, banks screw people every single day. So, what he was doing was perfectly justified, or so he told himself. He indulged every whim he had. He never had money, especially after his father passed. It was his time to live like the rich folks he\u2019d see at the hotel casino. He enjoyed whatever money could be \u2013 limousines, helicopter rides, prostitutes, five-star hotels, and even private jets.<\/h6>\n

<\/p>\n

High Life<\/h2>\n
\"\"

StyleMann<\/p><\/div>\n

It seemed as if it was actually possible for a lowly bartender to enjoy the luxurious life. But being the good man that he is, Saunders was constantly living in guilt and fear. He somehow knew that he was going to get caught and eventually punished. He just didn\u2019t know when this was going to happen for him. In the four and a half months, he was able to steal a whopping $1.6 million. As long as he had the NAB card with him, he felt like a king.<\/h6>\n

<\/p>\n

Guilt Sets In<\/h2>\n
\"\"

Deposit Photos<\/p><\/div>\n

Spending $9,000 a night had become a norm for Saunders. He also helped a homeless man by giving him a room at Hilton Hotel for an overnight stay. It seemed as if money grew on trees for him. Then one night, he collapsed at the foyer of Sydney\u2019s Shangri-La Hotel. His heart was hammering on his chest and he started sweating bullets. He wondered what was wrong with him. His stress had been so apparent that he got help immediately. Then, the doctor told him that he evidently was having a panic attack. That was because he had stolen so much that he was at the point of no return.<\/h6>\n

<\/p>\n

Going On<\/h2>\n
\"\"

NDTV<\/p><\/div>\n

Despite the panic attacks and the constant feeling of guilt, this illegal routine of his went on for years. The bank didn\u2019t know at all and Saunders was shocked at how long he was able to get away with the crime simply by finding a loophole. Nonetheless, he celebrated each day as if it were his last because he knew he was eventually going to jail for this. The spending spree was bound to end sooner or later, and he was prepared for whatever punishment that would come his way.<\/h6>\n

<\/p>\n

Saying Goodbye<\/h2>\n
\"\"

New Sales Coach<\/p><\/div>\n

Saunders bid farewell to his friends and spoke to a lawyer about what he had been doing. He stopped transacting altogether and reported his actions to the bank manager via a phone call, but he still had $80,000 with him, which he spent on what he felt were his last days as a free man. Then, he moved to Victoria and resumed living his life as a waiter. Surprisingly, the bank hadn\u2019t taken action at all. And over the next 18 months, he learned something new: that the owners of the restaurant he worked for were scamming their very own staff and crew. So, he decided to commit another crime.<\/h6>\n

<\/p>\n

Becoming Robin Hood<\/h2>\n
\"\"

Daily Mail<\/p><\/div>\n

Saunders went to the restaurant after midnight, stole $21,000 in cash from the safe. He then distributed the money amongst the cheated waiters and suppliers. He also kept some for himself for the unpaid wages and owed holiday pay. He then decided to gather the staff and treat them out to a fancy meal that they all enjoyed. He was going to get into trouble for this, but at this point, it no longer mattered. Stealing money had already become a norm for him. It was what he had done for years, and he was able to get away with it.<\/h6>\n

<\/p>\n

Reporting to the Police<\/h2>\n
\"\"

Amazon<\/p><\/div>\n

The restaurant owners, who refused to be named, denied any illegal activities but reported Saunders for theft. The bank, on the other hand, said that what had happened to him was a one-off, a glitch in the system. But the fact that they hadn\u2019t taken immediate action must have come from embarrassment on their end because a customer was able to steal millions without them ever noticing anything. However, the wonderful life had ended for Saunders at this point. He always knew that the good things for him weren\u2019t going to last forever. He simply chose to end it sooner rather than later.<\/h6>\n

<\/p>\n

Getting Away<\/h2>\n
\"\"

Daily Mail<\/p><\/div>\n

If Saunders hadn\u2019t reported himself or played hero, he might have been able to get away with money laundering. The Christian in him, though, eventually came through and won over. He wanted to be punished and he wanted to clear his conscience. He had been ordered to pay $250,000 in compensation by NAB, but this is nothing compared to how much he actually stole. He also spent the next 12 months in prison three and a half years after he discovered the loophole, but to many, this is a mere slap on the wrist compared to what he actually deserved. And while the punishment had been relatively easy, Saunders has fully prepared himself to wholly pay the consequences. As he said, \u201cI\u2019ve made my bed. I\u2019m fully prepared to lie in it.\u201d<\/h6>\n","protected":false},"excerpt":{"rendered":"

Dan Saunders was a lonely bartender with $3 to his name. He was penny pinching every single day of his life because he had to. When he really needed the extra cash, he would use his credit card. That was his life \u2013 he couldn\u2019t afford to splurge. Life was expensive and he had no choice but to watch what he spent on. Then in February 2011, he decided to let loose one night and have a drink or two with his friends. This was when fate took a turn for the often hard-up 29-year old. He stumbled upon an <\/p>\n","protected":false},"author":1,"featured_media":77776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wprm-recipe-roundup-name":"","wprm-recipe-roundup-description":"","footnotes":""},"categories":[29],"tags":[2420,1163,34678,483,34679,34681,34680],"yst_prominent_words":[9561,9866,9552,9558,9560,9553,9102,14783,8899,9557,11020,10850,10846,9047,21192],"_links":{"self":[{"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/posts\/77775"}],"collection":[{"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/comments?post=77775"}],"version-history":[{"count":0,"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/posts\/77775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/media\/77776"}],"wp:attachment":[{"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/media?parent=77775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/categories?post=77775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/tags?post=77775"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/awesomejelly.com\/wp-json\/wp\/v2\/yst_prominent_words?post=77775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}