Salim Kara stole $2M in coins with a magnet and a car antenna

Re:Salim Kara stole $2M in coins with a magnet and a car ant... by michaelcampbell on Tuesday January 02, 2024 @09:26AM (#38841906)

I worked at a Wall St. trading firm (albeit not in the trading area), and a lot of the back office/audity type people were required to switch roles every so often, so that any little unforeseen way to steal money somehow wasn't overlooked and "hoarded" by one person. In addition to multiple people having to sign off various things, etc.

IIRC, there were mandatory PTO/vacations required as well, so that everyone's job was done by at least 2 different people during the year.

This was not a legal thing, but required for the firm I worked at. My manager at the time said this was pretty common practice on the street, then. (Early/mid 90's.)

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Re:Salim Kara stole $2M in coins with a magnet and a car ant... by toss1 on Tuesday January 02, 2024 @09:46AM (#38842121)

Yup, control counts a lot! Working at IBM just our of college, someone several levels up was getting a promotion for discovering an interesting loophole. Apparently, he'd discovered a way that four people could collaborate to exfiltrate just under $25 million (several decades ago) on Friday, and could be out of the country by Monday before it was noticed. The controls were previously good enough that it would take no less than 4 people cooperating. Obviously, he reported it, and this was good for a skip-level promotion.

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