4 ms·
As far as I understand it, the money that was transferred out did not come from nowhere... Ultimately it was the bank's money. Edit: Meant to also mention also
by joemi 12y ago
As far as I understand it, the money that was transferred out did not come from nowhere... Ultimately it was the bank's money.
Edit: Meant to also mention also that the whole making-it-look-like-an-account-had-more-money concept was about making the fact that they were taking the bank's money harder to notice. It was not actually creating money that did not exist before.
- justincormack 12y agoNot sure, double entry bookkeeping is apparently not baked in everywhere, if you can increase an account balance it might not be picked up. If this is creating money, well thats another question.
- niels_olson 12y agoYes, that's absolutely fascinating. The banks wouldn't catch on until up to 10 hours later. Is it possible they're only validating their database every 10 hours?! Shouldn't the database reject the transaction instantaneously?