A man who managed to outsmart the system has shared his story about an ATM error that allowed him to amass $1 million AUD. However, the experience wasn’t as promising as it initially appeared.
Dan Saunders, an Australian, discovered back in 2011 that an ATM machine was malfunctioning, enabling him to withdraw unlimited funds. This discovery happened when he checked his bank balance during a night out. The ATM behaved erratically, leading him to realize he could transfer funds and withdraw $200 from his savings account.
In an interview with Vice, he explained how he began to experiment with his bank card, extracting more money.
He recounted: “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.”
Despite this, he confessed to Steve Rose PhD that while he was acquiring many superficial things and experiences, he felt he was losing his inner purpose.
He further explained: “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.”
Speaking to Vice, Saunders pondered: “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?”
He also discussed experiencing anxiety and resorting to drugs to manage it, 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.”
Reflecting on his gambling and the ATM error, Saunders admitted that initially it was thrilling and amazing, but said, “eventually when you get to the end of it you’ve still got a love for it”.
Ultimately, after turning himself in, Saunders was convicted on charges of fraud and theft. He pleaded guilty and received a 12-month prison sentence.