Yesterday the Commonwealth bank's ATM system ran amok. It started handing out money to bemused customers. Some people trying to get an account balance or to pay a credit card bill suddenly found cash coming out of the chute. The machines ignored account balances, and like a generous uncle at Christmas - delivered whatever was asked for.
This caused a run on the machines, until the bank closed them down. Now comes the time of recriminations - and finger pointing.
The bank says the problem was a software malfunction - but that they know who got what amount of money from the ATM's. The police got in the act with a public statement, advising that anybody receiving cash that they knew to be in excess - and which they kept - was committing a felony and could be charged !
How much is truth - and how much is bluff remains to be seen.
To access an ATM a customer needs an access card with the correct magnetic strip that provides identification - and the current PIN. Therefore the bank knows who used the machines during the problem period. The machines also provide a photographic record of the person standing at the machine at that time.
What is unclear is the type of malfunction within the bank network. Whether the machines accurately recorded the exact amount of cash dispensed at each transaction is unclear.
Naturally the banks are going to claim that they have this knowledge, because they will otherwise have problems recovering their loss.
The chances are high that the fail/safe mechanisms in place did keep accurate records - but on the day many people thought that they were getting a bonanza of free money.
That's a bit like still believing in the tooth fairy !
No comments:
Post a Comment