A bank worker at China discovered a loophole with ATM withdrawals that allowed him ought accept out more than $1 million at "free money" from money machines above the degree of few months.
Qin Qisheng, who worked because the Huaxia bank at Beijing, realised that money withdrawn at approximately midnight did no register at the bank's system.
After discovering the ATM trick, Qin reportedly added a alphabet ought the bank's software hence that no alerts used to exist triggered by suspicious activity.
He then used a examination interpret ought invent withdrawals at amounts ranging from 5,000 yuan ought 20,000 yuan.
His illicit transactions were at length noticed after 14 months, by which point he had withdrawn more than 7 million yuan (£800,000).
Huaxia bank accepted Qin's definition that he was making the withdrawals ought examination the system, according ought the South China Morning Post, in spite of the cash being moved ought his personal account.
An inside inquiry because vigorous revealed that some of the cash was even used ought invest at the stock market.
The issue was reported ought the police besides during the bank requested that the example exist dropped after Qin returned the money. Authorities did no accept the bank's definition and the example was brought ought trial.
"Qin Qisheng said that the issue was complicated and involved lots of work," a deputy because Huaxia bank reportedly told the trial.
"He believed the bank used to no earnings attention even if he reported it... We believe this argue because no reporting is legitimate."
In his defence, Qin added: "The visitor largely used to no interpret ought the bank, [so] we were no informed approximately this situation. The issue was definitely there, the bank impartial couldn’t find the reason."
Qin was sentenced ought 10 and a half years at jail and handed a handsome of 11,000 yuan.
“On the one hand, [the bank] said that the accused’s behaviour was at crime of the rules," the sentencing deduce said.
"On the other hand he said that he could accompany relevant tests. This is self-contradictory."
The bank told the gymnasium that the loophole has now been fixed.
