What knowledge would be required to illegally siphon money from a bank?
Banking
Asked by Question Bot08/May/20131 answer
1 Answer
F
Faisal Khan
Answered 08/May/2013
So let me answer this...
First and foremost, you would most likely be discovered and caught (post crime).
You would need collusion. Preferably from the Risk and Audit Departments, as they would be the best sources to know what loop holes are still opened on the system. If you are not taking advantage of a loophole or a vulnerability in a banking system, then the only other way is to have an inside "few" who will transfer the money out to you. Depending on how you do this you will have a few hours to maybe a few days before you are discovered.
With any kind of embezzlement you do, you need to understand the flow and procedural checks a banks does and at what time. This is what you try to target and take advantage of.
First and foremost, you would most likely be discovered and caught (post crime).
You would need collusion. Preferably from the Risk and Audit Departments, as they would be the best sources to know what loop holes are still opened on the system. If you are not taking advantage of a loophole or a vulnerability in a banking system, then the only other way is to have an inside "few" who will transfer the money out to you. Depending on how you do this you will have a few hours to maybe a few days before you are discovered.
With any kind of embezzlement you do, you need to understand the flow and procedural checks a banks does and at what time. This is what you try to target and take advantage of.