Bank Fraud, The Old Fashioned Way

When a young Russian computer expert appeared in a London court on Aug. 17 accused of electronically robbing Citibank, bankers were seriously spooked. By allegedly penetrating Citibank's corporate cash-management system from St. Petersburg, siphoning off $400,000, and trying to steal over $10 million more, Vladimir Levin and his cronies raised the specter of online fraud being perpetrated against banks by outside hackers anywhere in the world.

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