Man who discovered ATM ‘loophole’ that gave him millions in cash for four months explains the worst part of it
A man who cheated the system has opened up about the ATM glitch that saw him pocket $1 million AUD, but it wasn't all as good as it seemed.
Australian Dan Saunders checked his bank balance in 2011 and thought he'd struck gold, realising an ATM machine was acting strangely and he could get as much money as he wanted out. However, it wasn't all as good as it may sound.
In 2011, Saunders checked his bank balance during a night out, and noticed the machine he was trying to use was acting strangely and wouldn't show his balance, ending up transferring money and getting $200 out of his savings account.
He told Vice he 'started playing around' with his card and got more money out.
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He said: "I transferred another $200 (£117) and got the money out. Then $500 (£293), then $600 (£351), just to see what would happen.
"On the first day, I spent $2,000 (£1,170), but on the second day, I transferred $4,000 (£2,341) to make sure my balance didn't stay negative. The transfer at night would go through, then reverse one day later. But if you stayed ahead of that reversal by doing another one, you could trick the system into thinking you had millions."
However, he explained to Steve Rose PhD he was 'gaining all these superficial things and experiences' but 'knew [he] was losing the inner purpose'.
He continued: "I knew that I was losing the inner purpose of my actual morale. And not to say I was a saint by any means but I just mean that I've had my fun and I always [...] thought that they would end it not me.
"I didn't think I'd have to actually end it but I didn't end it because I felt bad for anyone else.
"I haven't met the victim I haven't met the software guy whose fault this was and think it would have been on one person in particular."
He told Vice: "It wasn’t that long until I asked myself: Who are you? You pushed the envelope for a bit but ultimately who are you? What do you stand for?"
Saunders also opened up about experiencing an anxiety attack and taking drugs to 'calm down', telling Rose: "I remember thinking that if you've got to be on drugs to alter your mind that's not good, that's not a play, that's not a lane I want to go down.
"[...] It would've been very easy to just turn to valium or alcohol addiction."
Saunders reflected on the gambling and ATM 'glitch,' admitting 'at the start it's so new and exciting it's so amazing' but 'eventually when you get to the end of it you've still got a love for it'.
After turning himself in, he was eventually convicted of fraud and theft charges and was sentenced to 12 months in prison after pleading guilty.
Topics: Australia, Money, Crime, Mental Health
Poppy Bilderbeck