That post is longer and will be coming up in the next day or two. But, this caught my attention as I was reading Boston.com and cleaning up my inbox today and I thought I’d share. Personally, I’m a little disappointed they didn’t get away with it.
Posted by Kevin Hartnett January 16, 2013 02:37 PM
Last month the Sydney Morning Herald ran a story about a (nearly) brilliant Ocean’s Eleven-style bank heist that came this close to netting a band of international criminals a smooth $150 million. The thieves hacked into the phone system of JPMorgan Chase’s Sydney office and sent a spurious fax with instructions to have the money wired to four overseas bank accounts.
Later that afternoon, senior bank staff from JPMorgan return from their festive Christmas lunch, eager to get away on their four-day holiday. Despite noticing that the people from SSGA have mistakenly dated the fax November rather than December, they authorise the release of a colossal $150 million. Within minutes, four overseas bank accounts with next to no money in them – two in Hong Kong, one in Switzerland and one in Greece – are bursting with balances each in the tens of millions.
The caper went down in 2003 and is only now being fully reported. You’d think there’d be no chance of something like that working, but as journalist Kate McClymont writes, the bandits took advantage of tipsy bank employees so inured to moving large sums of cash that they didn’t notice suspicious details in the fax- including the fact that two of the accounts were connected to gambling interests (an ideal vehicle for laundering money). The plot might have worked, too, but for three errant letters on one set of routing instructions.
For an enjoyable companion read, consider engineer-blogger Tim Hunkin’s lament that no one learns the art of safecracking anymore.
I can see why the JPMorgan Chase people had this story squashed for as long as they did. Personally, I wish they’d lost that $150 million, even if it did go to a criminal/gambling enterprises somewhere. After all, the line between who the bad guys are when it comes to banks and organized crime is getting pretty fuzzy these days. HSBC, I’m looking at you.