Sound like garden variety fraud with a high-tech
component.
Stealing passwords, setting up fake
accounts, etc.
Then using in-place procedures to transfer
money.
http://lists.jammed.com/ISN/2005/04/0021.html
Barry Tauber ( btauber@interaccess.com ) 847-267-8011
International Representative, INCITS-J4
Certified Java, Microsoft (maybe just plain certified)
-----Original Message-----
From: Ken North
[mailto:kennorth@sbcglobal.net]
Sent: Wednesday,
April 20, 2005 5:23 PM
To: xml-dev@lists.xml.org
Subject: [xml-dev] Did XML or web
services play a role in Citibank fraud case?
Details are still emerging
about a case in India
involving MphasiS employees siphoning funds from Citibank customer
accounts. Mphasis has been providing business process outsourcing to a customer
list that includes FedEx, J.P. Morgan Chase & Co and Citicorp. Some news
reports talk about a call center, but according to a 2001 eWEEK
article, Mphasis provides "integration and middleware" to
complement legacy systems.
Citibank has adopted XML
vocabularies for finance (e.g., OFX) and deployed web services for private,
corporate and institutional use. Citibank offers online self-service
banking. CitiConnect is an electronic payment processing system that
exchanges XML messages. CitiFile Services uses the internet
for "secure file transfers without a host-to-host connection".
As of yesterday, 19 people
had been arrested but police have suggested there could be a larger fraud
involving more people. Some of those arrested used cyber cafes to transfer
funds because they were monitored at work. News reports say some the rogue
employees obtained PIN numbers and passwords.
