News

ATMs dole out unlimited cash; cardholders charged with theft

August 3, 2012

Customers who took advantage of a hiccup in the ATM system of Australia's Commonwealth Bank that allowed them to withdraw more money than they had in their accounts are now finding that their amazing fortune was, indeed, too good to be true.

Authorities have now arrested 19 people in western Australia who withdrew funds they weren't entitled to, and have charged them with a total of 197 counts of theft, said a report by the Sydney Morning Herald.

A report by Nine News said that customers had tried to withdraw a grand total of $7 million (US$7.4 million) by exploiting the glitch, which occurred while the machines were being serviced, which prevented the bank from checking withdrawal requests against account balances.

In total, Commonwealth customers ultimately took out $200,000 (US$211,300) more than they actually had; one individual alone took out $30,000 (US$3,1695).

Detective Constable Jennie Ayre from the major fraud squad said that anyone who had taken out funds they weren't entitled to should contact the bank to make arrangements for repayment — or they could face charges of theft.

"If you take funds that you are not entitled to, it is stealing," she said.

According to the Herald article, the glitch that allowed the funds to be overdrawn has now been fixed.

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