Monday, February 16, 2015

The Wired World's Embezzlement

One used to have to work for a bank to steal cash with stealth.  An employee would create accounts, move funds around,  take a little here and there.  Before long, over time, the worker had a tidy sum to abscond with or keep as a reasonably safe steady income stream (it often supplemented shitty bank wages).  Embezzlers were employees.

And today, anyone with a computer and an Internet connection can become a bank "employee."  Banks and just about every other business does all its work on-line.  If work is online, it can be "seen."  If a thief can case the day to day operation of a bank, the thief can become a very successful embezzler.  Yep, it's being done--

Hackers steal up to $1 billion from banks, security co. says

I always appreciated a thief who counterfited nickels.  Back when nickels had more value, even the Treasury Dept. didn't waste time on them.  The nickels, over time, added up when one used them to buy a paper, a cup of coffee, a bus ride, and a candy bar everyday.  Yeah aiming low can let one meet some financial goals. I wonder what is today's counterpart to counterfeiting nickels, but by hacking?  

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