1 Million dollar hacked in 60 Seconds from Citibank
Oct 31, 2012
FBI have arrested 14 people over the theft of $1 million from Citibank using cash advance kiosks at casinos located in Southern California and Nevada. Authorities say the suspects would open accounts at Citibank, then go to casinos in California and Nevada and withdraw the money from cash-advance kiosks as many times as they could in a 60-second span. Someone had figured out that a glitch prevented Citibank from recording the extra withdrawals. FBI agents assisted by the Glendale Police Department and the Los Angeles Police Department arrested 13 of the defendants in the Los Angeles area Wednesday and Thursday. The suspects used the money to gamble and were given comped hotel rooms because of the amount they were spending, according to the FBI. Withdrawals were kept under $10,000 to avoid federal transaction reporting requirements, the FBI release read. FBI Special Agent in Charge Daphne Hearn commented, " While advancements in technology have created a world of...
