The ur-money glitch fraud
While reading a Strand article from 1907 by Austin Philips, a writer who had worked as an investigator for the British Post Office, I came across this passage, about fraud in Britain's Postal Savings system.
The introduction of the system of "withdrawal on demand" was responsible for an avalanche of frauds, though they were necessarily limited in result, since, by the regulations, not more than a pound can be withdrawn at any one time. One ingenious gentleman opened a number of accounts by depositing a shilling at various offices in different names. Having thus obtained a number of deposit books, he set about altering the entries to larger amounts, and then proceeded to withdraw a pound where he had deposited a shilling. His career was not, however, a lengthy one.
