2008-05-29

Hacker takes $50,000 a few cents at a time, pulls "Office Space" trick..



A hacker has used a loophole to collect more than $50,000 from Google
Checkout and online brokerage firms, a few cents at a time.

When opening an online brokering account it is common practice for
companies such as E-trade and Schwab to send a tiny payment - ranging
from only a few cents to a couple of dollars - to verify that the user
has access to the bank account listed. Services such as Google Checkout
and Paypal use a similar tactic to verify credit and debit cards linked
to accounts.

According to court documents, Californian Michael Largent used an
automated script to open 58,000 such accounts, collecting many
thousands of these small payments into a few personal bank accounts.

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