> It underscores the need for a multifaceted approach involving financial institutions, technology companies, law enforcement agencies, and policymakers to develop comprehensive strategies for preventing, detecting, and responding to such incidents. A balance between technological innovation and security will be crucial in maintaining the integrity of our financial systems and the trust of the public they serve.<p>This "article" is just a few Tiktok/Reels with the most mindless GPT essay I've read in months.
This is the dumbest thing I've seen in a long time.<p>Yes, let's commit fraud on the bank using our own ATM cards and bank accounts, at physical ATMs with video cameras recording ourselves doing it.
"Check fraud" isn't exactly a "glitch". This "works" because of a concession made to the customer to allow them to access funds before they're verified, because checks can take weeks to clear.<p>It's exactly why those "I'll send you a check for $10k, deposit and withdraw it, then send me half back and you keep the other half" scams work. By the time the bank comes back and says "This $10k check was
bad, give us back the $10k you withdrew", you're out the $5k you mailed off. Except in this case, the only person you're scamming is <i>yourself</i>, so it's an extra potent form of stupid.
> The glitch and its aftermath represent a fascinating case study in the intersection of technology and human behavior.<p>The bank was asleep at the switch. There's absolutely nothing "fascinating" or worthy of study here, unless you're writing a love letter to the bank, hoping to help them avoid any responsibility for their own failures.
By his last sentence this writer endorsed the criminal behavior the article spoke about. Simply appalling. By endorsing it he signals his lack of concern for those lowest on the socioeconomic rung who have struggled their whole lives merely to feed themselves and ATTEMPT to keep up with a greed driven world. Such a "windfall" as an extra 10k, 20k, or 30k would for MANY effectively free them from the struggle they have been unable to escape for the duration of their time on this planet, provided the money isn't frivolously wasted of course. In the face of such a release from financial freedom it,s no wonder so many choose to risk the possible legal consequences. And why write as though its an issue if clearly you dgaf but cheer them on as though its two rival teams in competition with each other and you're rooting for the underdog? Well congratulations, you side with anarchy, theft, immorality, and no clear path towards making this situation better for the more ill equipped team. The article said nothing more than, "Gotta get it together better banks!" Bravo.
I once deposited $100.00 cash at the bank on Friday to cover the last part of a check I had just written (in the 1990s) and when I later got an ATM balance receipt to check the whole amount was there, my account was over $10,000.00! Someone missed a decimal point.<p>Checked again Sunday and it was still there. Not surprisingly Monday afternoon I was poor again. I kept the receipt and intended to frame it, but frames were kind of expensive. I certainly haven't had 10k in the bank since.
well shit, I deposited a check today, and now I am worried I will get swept up in this bullshit and have to fight to get it cleared. <i>sigh</i> it's always something.