Bank Accidentally Deposited Money

luffyex2010 on 01/12/2017 - 20:26
Last edited 01/12/2017 - 20:28

This is usually an interesting topic to see the ethics of a normal civilian if they are suddenly given a lump sum money out of a sudden.

E.g. of the cases

1) A man received $123m deposited in his account and he called the bank to inform of the amount but only to laughed at by the officer saying "lucky you" Later two weeks a call from the bank to inform of the mistake.

Outcome: Man was honest but was ignored and he did the right thing.

2) A Malaysian Chinese girl (Christine Lee) was deposited 4.6 million into her account and she spent most of it on luxury goods and transferred the money into numerous account (already behaving like a criminal). Police trying to get to her but instead she wanted to leave to her home country Malaysia but got arrested at airport when trying to flee. She pleaded not guilty today and the bank dropped all the charges.

Girl Pleaded not guilty and believe her parents sent her the money (seriously?) other than the bank dropped the case. Obviously her parents had to fork out AU$4.6 million to payback the bank in order to get their daughter back home without the criminal tab on the forehead.

Outcome: Very dishonest until the very end of the trial. Probably to avoid criminal record on her name with parents money.

3) A couple (NZ) got transferred $10 million and flee to China and have spent 6 million but the bank only recover 4 million. He pleaded guilty to seven charges of theft.

Outcome: He is now in jail doing prison time.

4) Sandeep singh shopkeeper in UK got transffered UK$766K and spent some money with transfer some money to India.

Outcome: Admits to the crime, he was sentenced to 12 months.

5) German man Michael H was transferred $400m by accident and he tried to transfer 10 million elsewhere but was claw back by the bank on time (German quality control lol) Wasn't charged, but it was nice to a millionaire but regretted he moved the money.

Outcome: Try to do the crime but was stopped on time but regretted later.

If it happened to me when I was younger and single, my devil conscious would tell me to leave it in the bank and see what happens next but in reality in time the agony of the guilt would be too great for me to comprehend and the brain logic processor would kick in and have me contacting the bank and inform them on the mistake.

However when you live your life a little longer and have a family, my current self would immediately contact the bank as the money was never mine to begin with. Probably because I am happy with my life even though I am not rich and when you have a family it all changes.

Its important to teach our young about truth and honesty other than that what would you do?

or

Feel free to tell the story if you want to keep the money but how would run away with the money and live your life? ^o^

Poll Options expired

  • 41
    I will keep the money and run
  • 324
    I will do nothing until something happens
  • 168
    I will call the bank to get the money return
Financial

Comments

  • airal3rt on 01/12/2017 - 20:41
    +76

    Transfer as much out of the account as possible without triggering any of the automatic detection safeguards the bank has in place, then flee to Mexico to start my new life with a new identity as Juan Richo Murtafuka.

    • luffyex2010 on 01/12/2017 - 20:43

      Can someone second that he will not be caught? lol

    • follow on 01/12/2017 - 23:18

      just like in the movies, transfer 5 cents to 100000000 accounts

    • smpantsonfire on 02/12/2017 - 10:30
      +5

      ^^ Just got millions, moves to Mexico. What is wrong with you

  • singlemalt72 on 01/12/2017 - 20:43
    +58

    2 - I'm not sure money was deposited into her account - a huge overdraft was applied to her account giving her access to money - I can see how this is not fraud, but I would assume she will be liable for paying pack what she spent (until she declares bankruptcy). Morally wrong, but not legally wrong.

    • toniyellow on 01/12/2017 - 21:37
      +14

      Not sure why you're getting downvoted. You're right, the court did indeed drop the charges because they decided they couldn't charge her with a crime. http://www.smh.com.au/nsw/charges-against-christine-lee-for-…

      She didn't plead guilty, nor did the bank drop charges, they took civil action to get the money back.

      • trongy on 02/12/2017 - 10:50
        +1

        In our legal system criminal charges are brought by the government in the name of the Queen.

        The office of the Director of Public Prosecutions confirmed the charges against Ms Lee had been withdrawn on Monday.

        • Serapis on 02/12/2017 - 13:47

          This is right, the DPP dropping the charges does not mean that a verdict had been reached on her innocence or guilt, might mean they need to gather more evidence atm, might mean they just cbf.

        • -.- on 04/12/2017 - 13:11
          +3

          @Serapis: Interestingly, one is never proven 'innocent' through the criminal justice system. You can, at the most, be found 'not guilty' where the standard of proof is beyond reasonable doubt, i.e. there is reasonable doubt that you did commit the alleged crime, so therefore you must be found 'not guilty'.

        • Serapis on 05/12/2017 - 01:37

          @-.-: This is technically correct, thanks for picking it up

      • [Deactivated] on 02/12/2017 - 11:49
        +1

        They did charge her but another case was settled before hers-a guy who withdrew a large amount from an ATM. He was found not guilty so that set a precedent and charges against her were withdrawn.

        • Serapis on 02/12/2017 - 13:50

          Precedents can be overturned… the DPP may factor that in but does not mean that this is the sole reason why the charges were dropped

        • maxall on 02/12/2017 - 20:29
          -1

          @Serapis: Ms Lee could sue the bank for stress and mental damage during all these court processing by mistake or error from bank in the first place.

        • Serapis on 05/12/2017 - 01:36

          @4sure:

          I abhor news.com with their crappy editing and clickbait articles but anyway, read to the end:

          “The criminal charges against Lee were a matter for the Director of Public Prosecutions (DPP) and police, and we respect their decision.”

          Reason as to why DPP dropped the matter is not disclosed.

    • [Deactivated] on 02/12/2017 - 09:49

      This is fraud as she tried to escape back to her home country! Bank did the right thing to make her pay back!

      • trongy on 02/12/2017 - 10:56
        +9

        If it was fraud, there would have been criminal deception (such as providing false information on a loan application). However Ms Lee did not apply for a loan, the bank simply made the funds available. Hence the criminal charges were dropped.

        Bank did the right thing to make her pay back!

        That's correct. The bank took civil action; it was not a criminal matter.

        • [Deactivated] on 02/12/2017 - 11:22

          Damn…

        • amrdeus on 03/12/2017 - 22:17
          +1

          And as for "fleeing"….she was just going back to visit her family and thank them in person for her very early and generous birthday present. ;)

    • HighAndDry on 02/12/2017 - 11:30
      +4

      Yeah I read the news articles when this happened - what she did was fairly innocuous from what I gathered - if her parents DID have millions in cash to just pay back, it's not actually unthinkable, if they were financially supporting her with millions previously, that she really thought it was her parents giving her money.

      Let's not forget, the BANK made the mistake and didn't catch that mistake until millions were used. To punish her for the bank's mistake would be ridiculous.

      • HeavenlyHammocks on 02/12/2017 - 13:28
        -2

        If she thought it was her parents, she wouldn't be buying hundreds of handbags, would she? Seems like a plan to resell in Malaysia. And she'd probably ask them why they started giving her 100x more than usual.

        • HighAndDry on 03/12/2017 - 19:18
          +12

          You've never known any super-rich, super-spoilt international students have you?

        • Shiny Mew on 05/12/2017 - 08:19
          +2

          @0blivion:

          They're everywhere at Monash Uni. I recall not a year ago seeing a stocky Asian chap decked out in Givenchy, the sum of his clothing likely exceeding the cost of my car 50-fold. Or he just had a generous sugar daddy.

        • HighAndDry on 05/12/2017 - 09:58

          @Shiny Mew: Yeah. It's a growing (and depressing) trend in Asian countries, especially China, because of their growing focus on money - and in a lot of cases leading to parents working crazy hours and using money as a replacement for love and affection.

    • Fizzydrink on 03/12/2017 - 12:43

      i don't get it.. isn't an overdraft where you spend money you don't have anyway?

      so to get a 4 mill overdraft you don't have the money anyway, your just allowed to go 4 mill over your limit?

      so parents would have to pay 4 mill to get balance to zero.

      they couldn't have given her the money?

      • kickmiass on 03/12/2017 - 13:09
        +1

        Her case is plausible to a degree. Depends how she deals with money between her parents.

        My guess is she proved that when she runs out of money, her parents just put more in.

        Since she could keep spending without anything bouncing back, she probably assumed her parents just kept adding money.

        I mean sometimes people who are that rich don't understand or appreciate money , They just spend.

        Plus she might not have a relationship with parents either.. Strange but alot of plausible scenarios.

        Also, maybe she is terrible with money and stuff.

        I have met people who just spend freely with credit cards and their parents just pay it off and im talking half a mil over 1 month.

        • Fizzydrink on 03/12/2017 - 13:40
          +1

          they looking to adopt?

        • kickmiass on 03/12/2017 - 21:17

          @Fizzydrink: ahaha.. he got into alot of trouble eventually.. lol

  • airzone on 01/12/2017 - 20:43
    +58

    Put it in a high interest account until the owner comes to collect. Just because it's not yours doesn't mean that you can't earn a bit of interest on it.

    • EightImmortals on 02/12/2017 - 07:40
      +3

      Good plan….but these days 'high interest' is about 2.8% :)

      • GetOffMyUnicorn on 02/12/2017 - 22:24
        +1

        Not on credit cards. Fake news

      • MrTweek on 03/12/2017 - 09:18
        +8

        2.8% on $1m is still $76 per day…
        So in the case of the $12m guy, it would be like $9000 a day.
        Sounds pretty alright to me.

        And of course, once they find out and demand the money back, I would tell them what banks always tell me:
        Refunds take 7-9 business days to process :D

        • ChatCPT on 03/12/2017 - 10:03
          +7

          $920 a day

        • MrTweek on 03/12/2017 - 18:38

          @havok44:
          Oops, typo, I meant in case of the $123m guy.

          Thanks for the hint :)

    • [Deactivated] on 02/12/2017 - 10:04
      +10

      That's not actually correct. By placing it a high interest account you 'treat the money as if it were your own', so legally you 'steal it'. Any interest earned is therefore not yours.

      • Spic3y on 02/12/2017 - 11:29
        +36

        Yeah, only the banks are allowed to do this with our money. We cant do it with theirs…

        • GetOffMyUnicorn on 02/12/2017 - 22:24
          +1

          You can if you the rules of the game;)

      • airzone on 02/12/2017 - 15:13
        +5

        Call it an account management fee.

        • kewlaz on 04/12/2017 - 08:24
          +10

          Years ago a realestate agent put mony in my account by mistake. I told them i would to review the refund request which would take 7-14 days.

          About the 4th week I refunded the money minus the cost of the bank cheque, postage and handling and 1 hour for labour. they accepted this without question.

          It was an awesome feeling.

        • airzone on 04/12/2017 - 10:49
          +3

          @kewlaz: what's good for the goose is good for the gander

        • imcold on 14/12/2017 - 09:45
          +1

          @kewlaz:

          Yeah u did the right thing personally I would have waited longer and required more documentation to avoid fraud. Where they can reverse transcations after u wired them the money.

          Which means 2h of labour.

      • derk on 03/12/2017 - 18:54
        +1

        Offset account. Problem solved.

        • tommy-darko on 04/12/2017 - 04:39

          The banks money isn't their money, it's our money. Therefore, entitled to it :P

    • GregMonarch on 02/12/2017 - 16:39
      +1

      Interest is one thing that is NEVER mentioned when this happens. I've often wondered:

      • if people that just wait for the bank to reclaim the money, get to keep interest earned
      • if people that transfer the money out, get charged by the cops, return the money, go to court, say sorry to the judge and tell him they returned the money so he lets them off - if they get to keep the earned interest

      With the second one I expect the bank asks the judge to direct the person to provide their other account statement, then demand the interest earned as well. But who knows… It's just odd how it's never mentioned which makes me think there's a reason it isn't - like maybe banks don't want people to know people get to keep the interest, so that more people don't instantly transfer the money out, making the problem a legal issue that costs them and makes it harder for the banks to grab back the lot, due to it leaving their own system.

      • MrTweek on 03/12/2017 - 09:30
        +2

        I don't even see why it matters what you do with the money, as long as you return it as soon as the bank demands it back.

        If you buy stuff online and the store overcharges you by $10000, they won't be obliged to refund more than what you've been overcharged either.
        They won't need to tell you what they did with the money in the mean time either. Even if it took you 6 weeks to realise.

        Things that are legal:
        * keep the money until you find out who's it is
        * keep the money until the owner provides proper evidence of the money that it's theirs.
        * do whatever you want with it as long as you return the exact amount when demanded

        Things that are not legal:
        * denying that you have the money
        * refusing to return it

        • airzone on 03/12/2017 - 12:51
          +2

          Please provide original copies of the written documentation showing ownership of the funds by registered post. It will take me 7 - 10 days to verify the authenticity and reconcile from my end… Business days.

        • GregMonarch on 03/12/2017 - 15:24

          Yeah - I think just the act of transferring or withdrawing any of it (more than your 'real' balance), would trigger some banks into getting heavy-handed though. Because they wouldn't ask permission to take it back out again - they'd just take it.

        • MrTweek on 03/12/2017 - 18:46

          @GregMonarch:

          Yeah - I think just the act of transferring or withdrawing any of it (more than your 'real' balance), would trigger some banks into getting heavy-handed though.

          Yes, if you transfer more than a certain amount ($30k iirc), you'll need to provide evidence of ownership of the money.
          I would assume that won't apply for internal transfers though, so you might get around this if open a savers account with your bank. Not entirely sure on that though.

          Alternatively you could set up multiple savings accounts with all kinds of different banks and transfer 30k to each of them. Lots of work, but might be worth it for free money :D

          they wouldn't ask permission to take it back out again - they'd just take it.

          I'd be surprised if that is legal though. Can't just take money from a customers account, without a court order or something similar.

      • aragornelessar on 04/12/2017 - 11:48

        Someone was telling me a story about a bitcoin company which 'lost' their customers coins or something. Long story short, they found them later and was only obliged to return the amount that their bitcoins were worth - we all know how much they would have increased over that time though… in effect, making millions with the interest.

  • GetOffMyUnicorn on 01/12/2017 - 20:47

    In terms of law it's a massive grey area.

    You mentioned the ethics of the individual which is very important having said that, bank ethics are just as important. For instance, if a family defaults on their home it's repossessed, is this ethical? Maybe it's karma.

    • luffyex2010 on 01/12/2017 - 20:48

      -_- I know the legal loan sharks.

      • GetOffMyUnicorn on 01/12/2017 - 20:57
        +2

        Usury does come into play. A word rarely used in society now.

    • smuggler on 01/12/2017 - 21:07
      +2

      Yes, it is ethical. You can't expect a bank to lose money just so you can keep your home. The shareholders are also affected. The home was never yours to begin with.

      • Yttrium on 01/12/2017 - 23:23
        +1

        The bank shareholders need to be taken care of first.

        • outlander on 01/12/2017 - 23:27
          +6

          Absolutely. If the shareholders don't have a martini in their hands every second of every day, what is this whole thing about? What are we working towards?

        • Kangal on 02/12/2017 - 07:28
          +2

          @outlander:

          But not just any martini, but one designed by a professional bartender put into a crystal diamond glass. Otherwise, its not even worth it.

        • HighAndDry on 02/12/2017 - 11:28
          +5

          You joke, but this is true. If banks aren't profitable, shareholders will put their money elsewhere. Then the family - and every other family - never get to borrow to buy property in the first place.

        • Aleksstoj on 03/12/2017 - 09:23

          @0blivion: What are credit unions?

        • HighAndDry on 03/12/2017 - 19:24

          @Aleksstoj: You mean those companies responsible for a minuscule portion of the Australian home-loan market? So you know, good luck to all those other people wanting home loans, right?

        • Antikythera on 05/12/2017 - 12:52

          @0blivion: except the banks dont loan out shareholders money, they loan out depositors money.

      • GregMonarch on 02/12/2017 - 16:40

        It's not ethical. It's legal. But there are deferred/reduced payments usually, before that happens.

    • HighAndDry on 02/12/2017 - 11:27
      +1

      For instance, if a family defaults on their home it's repossessed, is this ethical?

      Yes, completely. Are you saying the family should be ethically entitled to something they didn't earn? Why?

      • GetOffMyUnicorn on 02/12/2017 - 22:13
        +1

        Fair enough, I was just asking a question, not making a statement mate.

  • [Deactivated] on 01/12/2017 - 20:47
    +10

    I like the Dumb and Dumber suitcase of IOUs approach.

  • p1 ama on 01/12/2017 - 20:57
    +3

    Personally, I would contact the bank and let them know of the mistake. At the very least, I would just leave it there and see what happens. To take any sort of action (e.g. withdraw and flee the country) is definitely illegal and no different from theft in my opinion.

    • GregMonarch on 02/12/2017 - 16:46
      +4

      IF you could withdraw the lot in cash I would. Then go to the media, show them the suitcase of cash, get paid for the story, then walk into the bank and give it back with the cameras following to prove you did the right thing. I think they'd be reluctant to make too big a fuss given the media attention would then be much more than a minor mention in the dying newspapers, and so would ask the judge to let you off asap - and - profit!

      • buckster on 02/12/2017 - 22:59
        +2

        Tracy Grimshaw would love you

      • orangetrain on 05/12/2017 - 08:36

        What's the most money that could be put in a suitcase?

        • Antikythera on 05/12/2017 - 12:59

          not sure about suitcase. but one million in a briefcase. ~$38m if you carry gold in the briefcase.(both USD)

  • GetOffMyUnicorn on 01/12/2017 - 21:03
    +8

    "Its important to teach our young about truth and honesty other than that what would you do?"

    Perhaps if the banks and governments were more truthful and honest this would help society. I don't think the top dogs give a flying f*** about us. I'm cool with this, I accept it, having said that every action has a reaction.

    • superuser on 02/12/2017 - 10:14
      +4

      Perhaps if the banks and governments were more truthful and honest this would help society

  • smuggler on 01/12/2017 - 21:08
    -4

    Thou shalt not steal

    People make mistakes. Doesn't mean you take advantage of the situation. Why is it so hard for people to understand common decency? I hope more people get 10 years jail.

    • GetOffMyUnicorn on 01/12/2017 - 21:15
      +11

      In that case then smuggler, many top bankers and politicians should be in jail as I type.

      I have no issue with rules of the game, they just have apply to everybody without exception.

        • GetOffMyUnicorn on 01/12/2017 - 21:26
          +10

          "Taking someone else's money and spending it is stealing."

          Well, you just proved my point.

          many top bankers and politicians should be in jail as I type.

        • DerpFactory on 01/12/2017 - 22:31
          +3

          Hmm but in the op's scenario they are not "taking someone else's money and spending it", they were given the money, there is no theft involved.
          It's more like me giving you my car then calling the police and saying you stole it from me.

        • smuggler on 01/12/2017 - 23:05
          -2

          @DerpFactory:

          Finding something or coming across money or goods and not making a concerted effort to find its owner can make you liable for charges. It's still theft.

        • ChillBro on 01/12/2017 - 23:30
          +5

          Taking someone else's money and spending it is stealing.

          Does not live up to his username.

        • GetOffMyUnicorn on 01/12/2017 - 23:46

          @ChillBro: username doesn't checkout?

        • HighAndDry on 04/12/2017 - 16:15
          +1

          @smuggler:

          Still not the same - this isn't money lying on the sidewalk. This is money in your account. Like if someone walked into your house, put down a bottle of wine on your dining table, and walked out.

    • GetOffMyUnicorn on 02/12/2017 - 00:26
      +1

      http://www.smh.com.au/nsw/student-given-46m-in-westpac-overd…

      "Westpac overdraft error may not have broken law: magistrate"

  • smuggler on 01/12/2017 - 21:17
    -1

    I'm just glad the crying left or bogan right don't write our laws.

    Sensible centre is where it's at.

    • GetOffMyUnicorn on 01/12/2017 - 21:24
      +1

      I doubt I could find one soul that is aware of every law in Australia let alone what the lawmakers political view is/was, centre or otherwise.

    • pennypincher98 on 04/12/2017 - 09:09

      The authoritarians on the right to far right run our country though….

  • echelon6 on 01/12/2017 - 21:20

    I would assess whether it was worth it, because it would involve fleeing the country to a non-extradition country (most likely a craphole). Other considerations - leaving family and friends (until statute of limitations rolls over) but no big deal as they can visit me, and we can still keep in touch via phone and internet. I would read up on the crimes act, any relevant statute of limitation and the various exceptions and exceptions to the exceptions of it applying, and factor that in my decision. Some countries have a "bring x amount of money, you get a no questions asked visa" - Australia has this, funnily enough. I would try to target a country with such a visa.

    If I came to the conclusion that it was worth it, I would carefully move it away. Maybe I'd fly to my target country, set up a bank account and start sending test amounts then increasing amounts if that worked. The hard part would be guessing and working around their automated withdrawal controls - sort of like trying to walk in the dark without stepping on a lego. If they had no withdrawal controls, there's many ways to move the value away.

    Not once would morals factor in - what the f - if the banks had the chance to f you up and get away with it, would they hesitate?

    • [Deactivated] on 01/12/2017 - 21:30
      +4

      There are heaps of great countries with no extradition arrangement with Australia..

      • brokeunistudent on 01/12/2017 - 21:59
        +1

        Interesting you know so many…

        • [Deactivated] on 01/12/2017 - 22:47
          +5

          It's always good to know your options.

        • Kangal on 02/12/2017 - 07:37
          +1

          @nurries:
          But what if you instead, faked your death?
          Started a new in Australia, as Mr Thompson.

        • orangetrain on 05/12/2017 - 08:41

          @Kangal: Difficult due to ID requirements. It would possibly mean no more flights (passport) or driving cars (driver lic).

          You can also be detained perpetually (they can hold then release then detain again) until police can verify your identity. Its a form of torture, yes.

  • 2jzzzz on 01/12/2017 - 21:33
    +10

    Buy Crypto

    • luffyex2010 on 01/12/2017 - 22:07
      +6

      If you bought last month @6k USD you would have made 4K USD for 1 bitcoin

      Lets say bank accidentally deposited $1 million USD = you can buy 166 bitcoin, then when bank ask back money sell today @10k USD returned the $1M and you make profit $666K!

      …..the wonders of bitcoin….

      • armdrags on 01/12/2017 - 22:27

        You wouldn't even need to return that money as long as you never buy their domestic currency with bitcoin and they couldn't even do a thing about it.

        • educalifa on 02/12/2017 - 11:21

          Bitcoin is still traceable… you'd need to buy something like PIVX or Monero in order to be truly invisible.

        • armdrags on 02/12/2017 - 15:15

          I just used bitcoin as an example. But you can just simply transfer it to a different wallet after purchasing it from the exchange. Even if they can trace it they wouldn't even be able to recover it.

  • armdrags on 01/12/2017 - 22:03
    +2

    If any of these people bought bitcoin then the bank/government wouldn't be able to recover all these funds.

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