I thought today would be a good day to buy some Bitcoin, and I sent some of my fiat kroner to Strike from my bank. Then I got an email from my bank, demanding 1. What’s the purpose of the money transfer, 2. How did I get in contact with the company I wanted to send money to, 3. Do I expect to send more money to the company and 4. Asking me to document the purpose of the money transfer with an invoice or contract. If I didn’t do that they would not transfer the money. I wanted to say fuck you, but as the nice person I am I answered all but the last question. I explained I used a modern digital way of obtaining bitcoin with a mobile app and don’t have a contract or invoice. They at last confirmed the transfer, letting me use my own hard-earned money to buy bitcoin.
A funny story from today’s newspaper in Norway:
Over a three-week period during the summer, a woman in her 30s repeatedly exploited a loophole in the bank’s systems.
According to the police, the woman received help to set up multiple bank accounts with associated bank cards at Nordea. Once this was done, she went to an ATM, withdrew 15,000 NOK, and simultaneously transferred 15,000 NOK to another account via online banking.
SCAMMED: Nordea expects to recover the money. Photo: Tore Kristiansen / VG / NTB
As a result, she stood with 15,000 NOK in hand and had a 15,000 NOK overdraft on the bank account. However, with the same 15,000 NOK transferred to a new account with a different bank card, she could repeat the process. Over two days in August, she allegedly carried out this scheme 13 times.
In February, the woman is scheduled to appear in Buskerud District Court, charged with aggravated fraud. According to the indictment, the woman allegedly withdrew a total of 694,000 NOK in cash over 15 days.
The woman’s defense lawyer, Petter Mandt, declined to comment on whether she admits guilt.
“She will explain herself in court. However, there is no disagreement regarding the factual circumstances of the case,” Mandt said.
An additional eight individuals are classified as convicted, indicted, or suspects in the case. Overall, police believe the major bank was defrauded of several million NOK.
No Cash Seized
Police prosecutor Bjørn Bakko from the Sør-Øst Police District stated that the woman and others involved exploited a technical weakness in the bank’s systems.
The total fraud amounts to approximately 2.6 million NOK, Bakko reported.
He further explained that the bank eventually discovered what was happening and reported the matter to the police. Bakko also noted that no cash has been seized in any of the criminal cases, and the money is considered lost for the bank.
Sentenced for ATM Frauds
Five people have been convicted of similar fraud against Nordea. Notably, several of those convicted have also been sentenced for other criminal offenses, which may affect the length of their prison sentences:
• Man in his 40s from Eastern Norway: Sentenced to 75 days in prison for aggravated fraud involving 245,000 NOK.
• Man in his 30s from Eastern Norway: Sentenced to 60 days in prison for aggravated fraud involving 240,000 NOK.
• Man in his 40s from Eastern Norway: Sentenced to one year and 10 days in prison for aggravated fraud involving 405,000 NOK.
• Man in his 20s from Eastern Norway: Sentenced to 90 days in prison for aggravated fraud involving 214,693 NOK.
• Man in his 20s from Eastern Norway: Sentenced to four months in prison for aggravated fraud involving 255,000 NOK.
“The bank has submitted compensation claims in the cases, and these have been ruled on by the court,” said the police prosecutor.
In a criminal case heard last September, the court concluded that the accused woman made several transactions on behalf of her boyfriend.
Nordea says it has closed the security loophole that allowed the creation of multiple accounts. Photo: Gorm Kallestad / NTB
Loophole Closed
Nordea reported that the security loophole in question was quickly closed when they discovered the fraud.
The bank is pursuing compensation claims against all those involved and expects to recover the full amount of 2.6 million NOK.
“We are pleased that the police have taken this matter seriously and ensured it is addressed through the legal system,” said press officer Cathrine Graff.
I was at work today in my small town in south Norway (8000 inhabitants), having my iPad showing Bitcoin crossing $100k. A young electrician comes into my office to install an electric fire alarm, glances at the diagram curve on my iPad and says: So it crossed 100k today. Yes it sure did I answered. I was amazed that even here in a small town in northern Europe just a few hours after the Bitcoin price crossed $100k the news have spread around. #norgstr
