3 ms·
The risk that something like this is what happened is why Bitcoin companies (and other companies that deal with money) should have mandatory vacation policies f
by sqs 13y ago
The risk that something like this is what happened is why Bitcoin companies (and other companies that deal with money) should have mandatory vacation policies for employees. With a mandatory vacation policy, it's much harder to a single person to commit fraud, since keeping up a fraudulent scheme requires daily attention to create fake books and records.
https://sourcegraph.com/blog/mandatory-vacation https://sourcegraph.com/blog/mandatory-vacation
- GigabyteCoin 13y agoThat's an interesting idea. A mandatory vacation sure would have put a stop to "Brian Molony"'s systemic theft from CIBC much earlier. iyww Biran Molony was the real life person behing the movie "Owning Mahowny".
- rodgerd 13y agoIt's not just an interesting idea - it's very much the norm in much of the banking industry in my neck of the woods. It's generally considered one of the best ways of picking up internal fraud. One example that springs to mind from Australia was a branch staffer who had managed to rack up A$5 million dollars in fake mortgages. Went on holiday, the stand-in noticed dozens of mortgages to the same PO Box, did some digging...
- gwern 13y agoAnd also use Gregory Maxwell's proof of solvency scheme: https://iwilcox.me.uk/2014/nofrac-orig https://iwilcox.me.uk/2014/nofrac-orig
- marincounty 13y agoYes, this is a good idea, but you need smart people auditing the books(system). The smart part is a problem. Industry hires too many credentialed fools. Hire a criminal to catch a criminal.